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At Close: Jun 03, 2026
Brent crude climbs above $98 as fading Iran-US peace hopes reignite oil ETFs like USO amid supply fears.
Investors are looking to continue a weeks-long rally on expectations peace talks will develop between the U.S. and Iran. Kevin Hincks explains that it won't be that easy, pointing to sticking points i

Oil Rebounds as US Launches New Strikes on Iran

09:05am, Tuesday, 26'th May 2026
Oil rebounded as fresh US military strikes in Iran clouded the outlook for an interim deal between Tehran and Washington to reopen the Strait of Hormuz. Stephen Stapczynski reports.
Brent crude prices ticked higher Tuesday amid speculation that Tehran could insist on charging vessels passing through the Strait of Hormuz as part of a ceasefire deal with the U.S. Iran's foreign min
Spot gold prices are down and spot silver prices are sharply lower in early U.S. trading Tuesday, as a firmer U.S. dollar and renewed oil volatility offset support from lower Treasury yields.
Crude oil outlook remains volatile as Hormuz risks, Iran talks and Trump comments drive WTI and Brent futures into a critical week.
Oil prices pushed higher and U.S. stock futures pared some gains as renewed U.S.-Iran tensions dented peace deal optimism.
One month-plus into the truce, supply-demand dynamics dominate as US production stays robust. WTI plunges below $92 after channel violation, Brent defends $95.08 support, and Natural Gas breaks higher
Oil prices rebound as U.S.-Iran uncertainty and Strait of Hormuz risks keep Brent and WTI supported near key technical levels.
Oil prices traded mixed Tuesday as investors weighed signs of progress in U.S.-Iran negotiations that could eventually reopen the Strait of Hormuz. This comes even as fresh U.S. military operations in
Oil futures were mixed early Tuesday in Asia as traders assess Middle East developments.
U.S. crude futures fell more ​than 6% in early ‌Asian trade on Tuesday after ​Nikkei reported that ​the U.S. and ⁠Iran are discussing ​a plan to ​reopen the Strait of Hormuz about 30 ​
Oil markets tested new lows as President Trump said that negotiations were “proceeding nicely”.
Crude remains dramatically elevated from prewar levels after surging more than 30% since US, Israel launched strikes against Iran in late February.
Crude oil continues to move on to the latest rumors and headlines.
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