empty
 
 

17.05.202623:20:35UTC+00Oil Extends Rally Amid US-Iran Tensions

WTI crude futures climbed toward $106 per barrel on Monday, extending last week’s rally as stalled US–Iran negotiations and the near-closure of the strategic Strait of Hormuz kept global supply risks elevated. President Donald Trump warned that Tehran is running out of time to strike a deal with Washington, while Iranian media suggested the two sides remain far apart, with the US reportedly offering “no tangible concessions” in the talks.

Over the weekend, key energy infrastructure across the Persian Gulf came under attack, including a nuclear facility in the United Arab Emirates, further heightening geopolitical tensions. At the same time, the Trump administration let a waiver authorizing Russian crude exports expire, despite India’s request for an extension, adding pressure to already tight supplies.

Meanwhile, last week’s two-day summit between Trump and Chinese President Xi Jinping concluded without any concrete steps toward reopening the Strait of Hormuz.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback