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Oil prices rise nearly 10% in three days as hopes for quick peace deal fade amid US-Iran tensions

Market News
03 Jun 2026
Market Watch
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Neutral
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Oil prices have climbed for a third consecutive day, rising nearly 10% over three days, as ongoing clashes between U.S. and Iranian forces have dampened hopes for a swift peace agreement. Despite U.S. Central Command stating that Iranian drone attacks did not hit their intended targets, the launch of an additional wave of drones suggests that peace talks may be stalled. This escalation keeps oil markets on edge amid geopolitical uncertainty, potentially affecting global energy prices further.

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