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One step forward, two steps back

Day 53 of the war and a ceasefire seems very far for now
Published: 22 April 2026
Written by:
Will Cunliffe

Will Cunliffe

Research Analyst, The Officials
Will Cunliffe
,
Edward Hayden-Briffett

Edward Hayden-Briffett

Research Analyst, The Officials
Edward Hayden-Briffett
and
Spyridon Kokas

Spyridon Kokas

Research Analyst, The Officials
Spyridon Kokas
Reviewed by:
Jorge Montepeque

Jorge Montepeque

Head of Benchmarking, The Officials
Jorge Montepeque
Edition: Euro EditionVolume: 3Issue: 77
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Day 53 of the war and a ceasefire seems very far for now

Brent continued its march higher throughout the afternoon, peaking at $102.05/bbl shortly after the window, amid reports that Iran has no plans to negotiate after Trump said talks were “possible”. The back and forth with no progress is becoming inevitable.

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Benchmark reports published at the close of the trading day in London.

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