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2026-05-28 21:55:54
[US-Iran Clashes Resurge, Brent Crude Nears $97, WTI Reaches $91, Hormuz Stalemate Limits Gains] ⑴ Brent crude futures rose 3% to $97.14 per barrel on Thursday, while US WTI crude rose 3.1% to $91.44 per barrel. Oil prices had earlier this week fallen more than 5% due to expectations of a possible US-Iran deal. ⑵ US officials said the US military launched an attack on a military base in the southern Iranian port of Bandar Abbas, shooting down four Iranian one-way attack drones. The operation was described as defensive in nature and related to protecting the ceasefire. The Iranian Revolutionary Guard subsequently announced an attack on a US military base in response. ⑶ Trump rejected a proposal for Iran and Oman to jointly manage the Strait of Hormuz, stating that the waterway must remain open to everyone and opposing any toll system related to navigation. Oman, as a US ally, was warned by Trump. ⑷ Despite the rebound in oil prices, Brent and WTI are still likely to record their second consecutive weekly decline, as traders continue to weigh military risks against diplomatic negotiations. The American Petroleum Institute reported that crude oil inventories fell by 2.8 million barrels last week.
