Huo Xing Finance reports that on May 12, as hopes for a ceasefire agreement regarding Iran continued to wane and U.S. President Trump was revealed to be considering resuming military action, international oil prices rose further on Tuesday. By 10:10 a.m. Eastern Time on Tuesday, Brent crude oil prices increased by over 3.5% to $107.89 per barrel; WTI crude rose 3.62%, reclaiming the $100-per-barrel threshold. According to the report, Trump discussed follow-up strategies on Iran with his national security team on Monday. Although the White House still hopes to reach an agreement ending the conflict, core disagreements between the U.S. and Iran remain severe. Axios cited U.S. officials stating that Trump is considering resuming military action to further pressure Iran and advance negotiations. One official said Trump may “increase pressure further.” Trump previously stated that U.S.-Iran negotiations are currently “on life support” and criticized Iran’s response to U.S. proposals as “extremely weak.” Additionally, the U.S. government is considering reviving Operation Freedom—a military escort initiative designed to ensure the safe passage of international vessels amid Iran’s blockade of the Strait of Hormuz—which was suspended last week.
Iran negotiation deadlock pushes oil prices above $100 as Trump considers military options
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Summary
International oil prices surged above $100 per barrel on May 12 as tensions surrounding the Iran nuclear deal intensified. WTI crude rose 3.62%, while Brent climbed 3.5% to $107.89. Reports indicate that U.S. President Trump is considering military options to pressure stalled negotiations, describing Iran’s response as “extremely weak.” The options market is exhibiting heightened volatility as traders react to potential geopolitical risks. Analysts suggest that altcoins to watch may attract increased interest amid market uncertainty. The U.S. is also reviewing the resumption of a military escort plan in the Strait of Hormuz.
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