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

Oil prices rose Tuesday amid concerns over a prolonged Middle East conflict after President Trump's comments that the ceasefire with Iran is on "life support"

First seen · 2:57 AM UTCMay 12, 2026

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Oil prices extend gains as Trump comments diminish hopes for a U.S.-Iran peace dealOil prices rose Tuesday amid concerns over a prolonged Middle East conflict after President Trump's comments that the ceasefire with Iran is on "life support"
2:57 AM UTC

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