Global oil prices fluctuate as US-Iran peace talks overshadowed by uncertainty on 26 May 2026

Global oil prices fluctuated on Tuesday, 26 May 2026, as uncertainty clouded US-Iran peace negotiations. Market participants remain vigilant over the potential resurgence of conflict. Brent crude futures for July, the international benchmark, rose 1.6% to $97.72 per barrel (approximately Rp 1.7 million) in Asian trading. Meanwhile, US West Texas Intermediate (WTI) futures for June delivery fell 5.4% to $91.38 per barrel (around Rp 1.6 million). ‘To protect our troops from the threat posed by Iranian forces,’ CNBC reported on Tuesday. President Donald Trump stated that peace talks with Iran were progressing well, but only a ‘Big Deal’ could end the conflict. ‘Only a Big Deal for all or no deal at all,’ Trump explained. ‘Enriched uranium (Nuclear Dust!) will be handed over to the United States to be taken home and destroyed, or, preferably, work together with the Islamic Republic of Iran to destroy it onsite or at another acceptable location, with the International Atomic Energy Agency (IAEA) or equivalent as witnesses to the process,’ he said, citing CBS News on Monday. Iran has not yet given a definite response. Washington has emphasised that the primary condition for any agreement is the cessation of Tehran’s uranium enrichment.