--- title: "Oil prices rise after fresh round of strikes between U.S. and Iran, pushing peace deal into doubt" type: "News" locale: "en" url: "https://longbridge.com/en/news/287892735.md" description: "Oil prices surged as tensions escalated between the U.S. and Iran, with West Texas Intermediate rising 2% to $90.68 a barrel and Brent crude increasing 2.5% to $96.40. The U.S. conducted strikes on Iranian military sites, prompting Iran to retaliate. This renewed conflict raises doubts about a potential peace deal that could stabilize shipping through the Strait of Hormuz, impacting global oil supply and economic stability." datetime: "2026-05-28T09:39:15.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287892735.md) - [en](https://longbridge.com/en/news/287892735.md) - [zh-HK](https://longbridge.com/zh-HK/news/287892735.md) generator: "portal-rs" --- # Oil prices rise after fresh round of strikes between U.S. and Iran, pushing peace deal into doubt By Nora Redmond President Donald Trump said he would not agree to a deal that allows Oman and Iran to control shipping through the Strait of Hormuz. Global oil prices advanced on Thursday after the U.S. and Iran exchanged a new set of strikes throughout Wednesday night. West Texas Intermediate, the U.S. benchmark, saw its most active July contract (CL.1) (CLN26) climb by about 2% to $90.68 a barrel, while Brent crude, the international benchmark, futures for July delivery (BRN00) (BRNN26) rose by almost 2.5% to $96.40 a barrel. Its most active contract, for August delivery (BRNQ26) edged more than 2% higher to $94.46 a barrel. The latest moves come after a Reuters report that the U.S. launched a fresh set of strikes targeting a military site in Bandar Abbas, which is located along the Strait of Hormuz in southern Iran, and shot at Iranian drones overnight on Wednesday. They mark the second round of strikes on the country's military sites in three days. The U.S. Central Command described the actions as "measured, purely defensive, and intended to maintain the cease-fire." Iran's Islamic Revolutionary Guard Corps said it retaliated to the attacks by targeting a U.S. air base, but they did not reveal any details about its location and the claim has not yet been verified by the U.S. However, the army of Kuwait, which hosts a U.S. air base, confirmed that its air defenses were "confronting hostile missile and drone attacks" in a post on X late Wednesday night. "The optimism which has persisted for much of this week about the prospects for a deal between the US and Iran is being severely tested," Russ Mould, investment director at AJ Bell, wrote in a note on Thursday. "A fresh exchange of strikes between the two countries is testing the fragile cease-fire and forcing a reassessment of the chances of a near-term agreement which can reopen the Strait of Hormuz and dial down the pressure the crisis is putting on the global economy." Earlier on Wednesday, President Donald Trump dismissed an Iranian report that shipping through the Strait of Hormuz would be jointly controlled by Iran and Oman as part of a peace deal during a cabinet meeting. The number of oil and gas tankers transiting through the strait rose from a recent average of three to four on Tuesday, according to data gathered by UBS. This included a crude tanker headed to China, one to India, one tanker carrying liquified petroleum gas leaving the passage route and another one entering. However, analysts at the bank led by Henri Patricot noted that within the Persian Gulf, "crude and products loadings remainedextremely low." -Nora Redmond This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. 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