---
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.

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