Oil prices rose nearly 1% on May 12 amid renewed truce negotiations between the United States and Iran. Brent crude futures reached $105.07 per barrel, while U.S. West Texas Intermediate (WTI) crude climbed to $99.06.
Analysts warn that without a peace agreement finalized by the end of May, risks of additional price surges could intensify significantly. Conversely, meaningful progress in negotiations might trigger a sharp correction of $8 to $12 per barrel. Should tensions escalate or blockades resume, Brent crude prices could swiftly rebound above $115.
