Oil spiked after renewed attacks in the Persian Gulf and a fresh attempt by Washington to raise the pressure on Tehran with sanctions, as the US and Iran remained far apart on moves to reopen the Strait of Hormuz.
Geopolitics Bloomberg May 27, 2026
Oil Spikes as Renewed Gulf Attacks Threaten Fragile Ceasefire
Oil spiked after renewed attacks in the Persian Gulf and a fresh attempt by Washington to raise the pressure on Tehran with sanctions, as the US and Iran remained far apart on moves to reopen the Strait of Hormuz.
