Brent Crude Above $100: Iran Talks Collapse and Vance Cancels Pakistan Trip — War Premium Is Back

# Brent Crude Above $100: Iran Talks Collapse and Vance Cancels Pakistan Trip — War Premium Is Back

> **Quick answer:** Brent crude hit $101.97 on April 22, 2026 — crossing the $100 psychological threshold for the second time this year — after Iran's government announced it would not attend peace talks in Islamabad and Vice President JD Vance canceled his Pakistan trip indefinitely. Goldman Sachs analyst Daan Struyven warns Brent could stay above $100 through all of 2026 if the Strait of Hormuz closure persists another month, with a severe scenario pushing prices to $120/barrel in Q3. *This article is for informational purposes only and does not constitute financial advice. Consult a qualified financial advisor for personal financial decisions.*

Brent crude oil above $100 April 22 2026 is no longer just a warning — it is the market's answer to a diplomatic implosion. Within 12 hours on April 22, Brent swung from $96.09 to $102.07, a $6 intraday move, as the thin thread holding U.S.-Iran peace talks together snapped. Here is exactly what happened, what Goldman Sachs is projecting, and what this means for your portfolio.

## How Brent Crossed $100 on April 22 — The Sequence of Events

The price spike did not come out of nowhere. It is the product of three converging shocks that hit markets in rapid succession.

**Iran walked out of the Islamabad talks.** Iran's semi-official Tasnim News Agency confirmed that Tehran's negotiators informed their U.S. counterparts — through Pakistani intermediaries — that they would not appear for the scheduled Wednesday session. The official statement read: "Under these circumstances, attending the negotiations is a waste of time because the US prevents reaching any suitable agreement." The core sticking point is structural and unresolved: Iran insists the U.S. naval blockade constitutes a ceasefire violation making talks impossible, while the U.S. maintains the blockade will continue until a final deal is signed. Iran's Foreign Ministry also reiterated that its 60% enriched uranium stockpile will not leave Iranian soil under any conditions — directly contradicting U.S. demands for zero enrichment.