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Oil prices extend gains as Trump comments diminish hopes for a U.S.-Iran peace deal

Satellite view of the Salalah oil storage fire in Oman. An Iranian drone strike on March 11 ignited the blaze, sending a plume over the Gulf of Oman’s strategic port amid the wider conflict with Iran. Imaged March 13, 2026. Gallo Images | Orbital Horizon | Copernicus Sentinel Data 2026 | Getty Images Oil prices …

Oil prices jump after Iran and U.S. attack commercial ships as tensions escalate over Strait of Hormuz

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Cargo ships in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance, amid the U.S.-Israeli conflict with Iran, in United Arab Emirates, March 11, 2026. Stringer | Reuters Crude oil prices surged Sunday, as the U.S. and Iran teetered on the brink of a …