Oil rises over 2% as US strikes in Iran dampen peace deal hopes
Oil prices have risen over 2% following US military strikes on Iranian missile sites. The escalation in the Strait of Hormuz has raised concerns about the stability of ongoing peace negotiations. This situation has also impacted the cryptocurrency market, leading to increased volatility as traders adjust their risk exposure.
- ▪Brent crude oil prices jumped to approximately $102 per barrel after US strikes in Iran.
- ▪The US Central Command described the strikes as defensive retaliation against Iranian attacks on US warships.
- ▪The Strait of Hormuz is crucial for global oil trade, handling about 20% of seaborne oil.
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Oil rises over 2% as US strikes in Iran dampen peace deal hopes Brent crude jumps to around $102 per barrel as military escalation in the Strait of Hormuz rattles commodity and crypto markets alike. Share Add us on Google by Editorial Team May. 26, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); US military strikes on Iranian missile launch sites and naval assets sent oil prices climbing over 2% on May 8, with Brent crude pushing…
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