Petrol Prices in Pakistan Expected to Rise Again as Crude Oil Surges 9% Amid Failed US-Iran Peace Talks

Crude oil prices surged on April 13, 2026, after failed Iran-US negotiations in Islamabad. Global benchmarks WTI and Brent crude jumped 9%, reclaiming the $100 threshold. Investors now fear a naval blockade in the Strait of Hormuz. Supply chain stability remains the primary concern for energy markets in Pakistan and abroad.

Negotiators failed to agree on nuclear monitoring terms. Consequently, the crude oil price reacted with a sharp 9% spike, with WTI crude oil surging past $105 per barrel. Brent crude followed closely, trading above $103. This volatility ends a brief period of price stability and puts local fuel costs back under the microscope.

Naval Blockades and Supply Risks

The situation moved quickly from the boardroom to the coastline. Washington announced a naval blockade of Iranian ports effective 10:00 AM ET. This move directly impacts global shipping lanes.

• WTI Crude Oil Price: Exceeded $105/bbl.
• Brent Crude Oil Price: Reclaimed $103/bbl.
• UAE Murban: Dropped 1% to $98/bbl.

The crude oil price reflects the risk of Iran closing the Strait of Hormuz. Roughly 20% of the world’s oil passes through this narrow passage. If the April 22 ceasefire expires without a new deal, analysts expect even higher peaks.

Impact on Pakistan’s Economy

Local markets track these benchmarks to set domestic petrol prices. The current WTI crude oil price suggests another hike at the pumps is imminent.

Although UAE Murban went down a notch, the overall trend is positive. Supply chain managers already are adapting to the new reality of crude oil prices. The diplomatic solution that was expected in Islamabad is now lost and the market has to factor in on the active geopolitical conflict.