Oil prices continue to boil as US–Iran ceasefire hangs on ‘life support’
timesofindia.com / May 12, 2026, 07:59 (IST)
Middle East conflict jitters are pushing oil prices higher, with Brent crude and WTI futures seeing gains. Ceasefire talks with Iran are reportedly "on life support" following Tehran's response to a US proposal, which included broader regional demands. The Strait of Hormuz, a vital oil passage, remains a key flashpoint, with Iran asserting control, raising concerns about global energy supplies.