Oil prices today: Brent crude jumps to $105 per barrel as US-iran ceasefire hangs on ‘life support’
TIMESOFINDIA.COM / May 12, 2026, 07:55 (IST)
Middle East conflict jitters are pushing oil prices higher, with Brent crude and WTI futures seeing gains. Ceasefire talks with iran are reportedly "on life support" following Tehran's response to a US proposal, which included broader regional demands. The Strait of Hormuz, a vital oil passage, remains a key flashpoint, with iran asserting control, raising concerns about global energy supplies.