Oil futures pushed higher for a third consecutive session as traders weighed the consequences of the US-Iran stalemate over the Strait of Hormuz.
Published:
Tue, May 12, 2026
Editor
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The “peace off” trade in oil markets gathered more momentum on Tuesday, with crude futures benchmark Brent gaining 3% amid fading hopes for a diplomatic breakthrough between the US and Iran that would end their conflict and reopen the Strait of Hormuz.
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Oil price surges higher on setback to hopes for U.S.-Iran peace deal - UPI.com
Oil prices fell as optimism grew that Iran may restart negotiations with the U.S. and Israel, easing tensions over the conflict…
