Oil jumps as US and Iran disagree on peace proposal
Oil prices rose about $3 as US-Iran talks on a peace proposal stalled, while the Strait of Hormuz stayed largely closed, keeping global energy supplies tight. The deadlock elevated market concerns over supply risk amid ongoing tensions. Source: AdaDerana report, May 11, 2026. source http://www.adaderana.lk/news.php?nid=122339