Global oil price gains 3% as US strikes IranPublished on: May 27, 2026 10:42 AM
Pakistan, May 27 -- Brent crude oil rose 3 percent on Tuesday after the US military carried out strikes in Iran, adding to uncertainty on whether a deal will be imminently reached to end the war and open up shipping flows through the Strait of Hormuz.
US Secretary of State Marco Rubio said on Tuesday that negotiating a deal with Iran could "take a few days," quashing hopes for an imminent end to the conflict a day after US forces conducted what Washington called defensive strikes in southern Iran. "We are still waiting for more details on a potential deal," said Giovanni Staunovo at UBS. "Meanwhile we see renewed tensions in the Middle East, while flows through the Strait remain restricted."
Global benchmark Brent was up $3.04, or 3.2 p...
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