National

Oil rebounds after US strikes Iran military site

By Reuters Reuters
FILE PHOTO: A person works near an oil tanker docked at the Port of Fujairah, as the U.S.-Israel conflict with Iran limits marine traffic in the Strait of Hormuz, in Fujairah, United Arab Emirates, May 6, 2026. REUTERS/Amr Alfiky/File Photo
FILE PHOTO: A person works near an oil tanker docked at the Port of Fujairah, as the U.S.-Israel conflict with Iran limits marine traffic in the Strait of Hormuz, in Fujairah, United Arab Emirates, May 6, 2026. REUTERS/Amr Alfiky/File Photo Amr Alfiky Reuters

SINGAPORE - U.S. crude futures rose more than $1 on Thursday to above $90 a barrel after the U.S. military carried out new strikes on an Iranian military site while peace talks between Washington and Tehran are underway.

West Texas Intermediate crude futures rose $1.42, or 1.6%, to $90.10 a barrel by 2328 GMT, after settling down 5.55% in the previous session.

(Reporting by Florence Tan; Editing by Muralikumar Anantharaman)

Copyright Reuters or USA Today Network via Reuters Connect.

This story was originally published May 27, 2026 at 8:10 PM.

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