---
title: "Oil jumps to $98 as US-Iran ceasefire talks collapse"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286117274.md"
description: "Oil prices surged to $98 for WTI and over $100 for Brent following the collapse of US-Iran ceasefire talks, raising supply concerns. Asian oil importers faced record-low currencies due to rising energy costs, impacting reserves and investor confidence. Additionally, bond yields increased as markets anticipated sustained inflation from high oil prices, leading to a reduced likelihood of near-term Fed interest rate cuts."
datetime: "2026-05-12T14:17:19.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286117274.md)
  - [en](https://longbridge.com/en/news/286117274.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286117274.md)
---

# Oil jumps to $98 as US-Iran ceasefire talks collapse

Oil spike explained: US-Iran ceasefire collapse reignited supply fears, sending WTI crude to $98 and Brent above $100. Currency pain deepens: Asian oil importers saw record-low currencies as higher energy costs strained reserves and investor confidence. Inflation fears grow: Bond yields rose as markets priced out near-term Fed cuts, expecting high oil prices to keep inflation elevated.

### Related Stocks

- [BRNT.UK](https://longbridge.com/en/quote/BRNT.UK.md)
- [162719.CN](https://longbridge.com/en/quote/162719.CN.md)
- [OILB.UK](https://longbridge.com/en/quote/OILB.UK.md)
- [CRUD.UK](https://longbridge.com/en/quote/CRUD.UK.md)
- [BRND.UK](https://longbridge.com/en/quote/BRND.UK.md)

## Related News & Research

- [HSBC raises 2026 Brent price forecast to $95 per barrel](https://longbridge.com/en/news/286102418.md)
- [Rising Bond Yields Weigh on Stocks](https://longbridge.com/en/news/286939009.md)
- [The Momentum Trade Is One Ceasefire Away From Total Carnage](https://longbridge.com/en/news/286535824.md)
- [With ceasefire talks stalled, Trump and Hegseth claim 'control' over Iran and Strait of Hormuz](https://longbridge.com/en/news/286144922.md)
- ['Am I out?' Drought and rising costs from Iran war deepen pain for US farmers](https://longbridge.com/en/news/287042948.md)