Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › Business & Finance › With oil markets nearing the danger zone, a US-Iran deal...
Business & Finance

With oil markets nearing the danger zone, a US-Iran deal can’t come soon enough | Heather Stewart

The Guardian World Sunday 24 May 2026, 11:31 UTC By Heather Stewart 1 min read
Key Points

Global oil prices are nearing a critical tipping point, potentially leading to inflation, shortages, and recession. This volatility has been exacerbated by Iran's closure of the Strait of Hormuz in response to US and Israeli actions. Consequently, a US-Iran deal is viewed as urgently needed to stabilise the volatile oil markets.

Global prices are approaching a tipping point that could trigger inflation, shortages and, over time, recession

If a US-Iran deal is about to be reached, three months on from the launch of Donald Trump’s Operation Epic Fury, it will not be a day too soon for oil markets, which are approaching a dangerous tipping point.

The cost of a barrel of crude on the spot market – for immediate purchase, effectively – has bounced about $100 since Iran predictably responded to the onslaught from the US and Israel by closing the strait of Hormuz.

Continue reading...
Originally published by The Guardian World Read original →

Related Stories

SpaceX Price Tag is 'Very Steep': Renaissance's Kennedy

Bloomberg Markets 20m ago

Thinking about insider trading on prediction markets? Kalshi wants to make an example of you.

Prediction-market companies are identifying hundreds of cases of suspected insider trading.

MarketWatch 21m ago

Trump says U.S. secretly moved more than 100 million barrels of oil through Strait of Hormuz

President Donald Trump said Wednesday that the U.S. military has secretly helped 200 commercial ships and more than 100 million barrels of oil through the Strait of Hormuz. "This wildly successful effort is because the UNITED STATES of AMERICA CONTROLS the Strait of Hormuz — NOT Iran," Trump said in a Truth Social post. "Their military is defeated, and their economy is lost."

CNBC 25m ago

The big question facing SpaceX investors: What are you really buying?

Is SpaceX a rocket company, satellite communications business or AI powerhouse? That’s a key question for investors to assess heading into the IPO.

MarketWatch 26m ago