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Oil prices rise as Iran keeps near-weapons-grade uranium, fueling supply concerns amid stalled peace talks.

Market News
21 May 2026
CNBC
View Source
Bullish
pluang ai news

Oil prices climbed after three days of decline due to mixed signals on Iran peace negotiations. Iran's Supreme Leader directed that near-weapons-grade uranium remain in the country, raising fears of prolonged conflict and supply disruptions. The International Energy Agency warned that oil markets could enter a critical 'red zone' as global stocks dwindle with rising summer demand. The conflict has disrupted traffic through the Strait of Hormuz, a key route for about 20% of global oil, with full supply normalization possibly delayed until 2027.

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