Crude oil prices extend gains amid uncertainty over US-Iran negotiations. What’s near-term outlook?
US-Iran war: Oil prices continued their winning streak on Tuesday, 12 May, after US President Donald Trump raised doubts over a ceasefire with Iran by rejecting Tehran’s latest peace proposal, extending the effective shutdown of the crucial Strait of Hormuz.
Brent crude traded near $105 a barrel after gaining 2.9% in the previous session, while West Texas Intermediate hovered near $99.
