Brent crude prices climbed back above $100 a barrel Tuesday after Iran vowed retaliation following U.S. military strikes in southern Iran. According to market data, Brent crude rose more than 4% to $100.40 per barrel, while West Texas Intermediate futures traded around $94.19.
The U.S. military said it carried out “self-defense strikes” targeting missile launch sites and vessels allegedly attempting to deploy mines. The U.S. Central Command said the operation was aimed at protecting American forces from Iranian threats.
🚨 OIL PRICES JUMPED AFTER NEW U.S. STRIKES ON IRAN
— NewsForce (@Newsforce) May 26, 2026
Global oil prices rose sharply after U.S. forces launched new strikes on Iranian missile sites and boats, raising concerns that ceasefire negotiations could break down.
Brent crude climbed more than 3% and moved back toward… pic.twitter.com/fyai00Cjyn
Iran’s Revolutionary Guard responded by warning of retaliation after reportedly engaging U.S. drones and an F-35 fighter jet near Iranian airspace. The report said Tehran also linked progress in peace talks with Washington to the release of $24 billion in frozen Iranian funds.
President Donald Trump said negotiations with Iran were “proceeding nicely” but warned military action could resume if talks collapse.
Meanwhile, UBS warned that falling global oil inventories and continued Strait of Hormuz disruptions are leaving energy markets severely undersupplied.
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TIPP Staff
Terry Jones
