Oil prices rebounded after falling the day before, with Brent rising above $96 and WTI around $90. Disagreements remain between the US and Iran over the reopening of the Strait of Hormuz, with rumors that Tehran and Oman will jointly manage the strait, and reports that Iran has suffered new strikes, with multiple locations near the strait also attacked during the week. Trump said he was dissatisfied with the negotiations, while the White House denied the reports. The US military reportedly launched new strikes against threat targets inside Iran.

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2026-05-28 03:03:30

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Gold Financial reports that on May 28th, oil prices rebounded after falling more than 5% on Wednesday, with disagreements between the US and Iran over how to reopen the Strait of Hormuz, and reports of Iran being subjected to new military strikes. Brent crude futures rose above $96 per barrel, while WTI crude futures fluctuated around $90 per barrel. US President Donald Trump said he was "not satisfied" with the negotiations, and the White House denied reports about a draft agreement from Iran, with reports indicating that Tehran and Oman will jointly manage the Strait of Hormuz. Media reporters citing a US official on X reported that the US military launched new strikes against a target inside Iran that posed a threat to US forces and traffic through the Strait of Hormuz. Earlier this week, the US attacked multiple locations near the Strait of Hormuz. Brent July crude futures rose 2.1% to $96.23 per barrel; WTI July crude futures increased 1.9% to $90.39 per barrel.

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Crude oil futures rise, US-Iran negotiations remain deadlocked, and the US reportedly launches new strikes against Iranian targets

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