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Oil prices rise amid US-Iran tensions and Strait of Hormuz supply risks, awaiting key breakout levels.

Market News
26 May 2026
FXEmpire
View Source
Neutral
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Oil prices rebounded after a sharp drop as US-Iran peace talks showed little progress, keeping geopolitical risks high. The Strait of Hormuz remains a critical factor, with delays in reopening fueling supply concerns and supporting higher prices. Technically, WTI must break above $105 and Brent above $120 to confirm a strong bullish move, while breaks below key supports could push prices lower. The market remains volatile, influenced by ongoing strikes and the uncertain peace process.

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