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Oil prices jump again as Trump warns ceasefire talks stall and supply worries intensify
Economy
Published on 12 May 2026
U S signals a reserve release as talks struggle
Oil prices rose for a second straight day, driven by heightened uncertainty over US-Iran ceasefire negotiations and ongoing global supply worries. Trump said peace talks are struggling, while the US plans to release oil from its reserves. Traders are also watching Trump’s upcoming China visit, hoping diplomatic pressure could help unlock a resolution and ease market risk.
- Crude prices climbed again amid US-Iran uncertainty
- Trump said ceasefire talks are on life support
- US plans to release oil from strategic reserves
- Markets look to China visit for a diplomatic breakthrough
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times