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Commodity News Details
Energy Preview: Crude oil futures gain ground as stalled talks between war nations reignite fears of supply disruption
02-Jun-2026 08:48

WTI crude oil futures steadies back above $90 per barrel on Tuesday morning in Asia following a 5.5% surge yesterday as stalled talks between US and Iran reignite fears of supply disruption. Crude oil prices surged following reports from Iran's news agency indicating that Tehran has halted indirect negotiations with the United States. According to the report, Iran and its Resistance Front allies, spanning Yemen, Lebanon, and Iraq, have established an agenda to completely block the critical Strait of Hormuz and activate additional fronts, including the Bab el-Mandeb Strait, as a means to punish Israel and its supporters. Currently, the counter is quoting at $91.77 per barrel, down around half a percent on the day. Meanwhile, Brent is holding at $94.67 per barrel.

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