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Oil prices jump as Iran tensions persist, UAE nuclear plant hit
Key takeaways
- This increase also came ahead of expected meetings in which US President Donald Trump will weigh military options involving Iran.
- By 08:08 GMT, Brent crude futures had increased by $0.57, or 0.52%, reaching $109.83 a barrel (bbl).
- Meanwhile, US West Texas Intermediate (WTI) crude reached $106.21/bbl, an increase of $0.79, or 0.75%, after climbing to $108.70/bbl, its highest level since 30 April.
Oil prices jump as Iran tensions persist, UAE nuclear plant hit Shree Mishra Mon, May 18, 2026 at 6:08 PM GMT+7 3 min read CL=F Oil prices continued to rise on 18 May as momentum towards ending the Iran conflict appeared to falter after an attack on a nuclear facility in the United Arab Emirates (UAE).
This increase also came ahead of expected meetings in which US President Donald Trump will weigh military options involving Iran.
By 08:08 GMT, Brent crude futures had increased by $0.57, or 0.52%, reaching $109.83 a barrel (bbl). Earlier, they had risen to $112/bbl, the highest level since 5 May, reported Reuters.
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