Brent oil prices briefly top $108 per barrel after Iran peace talks unravel

Ships and tankers in the Strait of Hormuz off the coast of Musandam, Oman, April 18, 2026. Stringer | Reuters Oil prices were higher on Monday morning as plans for a second round of peace negotiations between the U.S. and Iran unraveled again. Iran's Revolutionary Guard also reportedly boarded two cargo ships near the Strait of Hormuz as tensions in one of the world's most important energy chokepoints remain high. …