Business · 12 May 2026

Oil prices climb as US stocks hit records

Rising fuel expenses are leading American lawmakers to suggest pausing federal petrol and diesel taxes. Brent crude oil increased 2.9%, reaching $104.21, after President Trump said the U.S.-Iran ceasefire was unstable. Meanwhile, American stock markets reached new highs, following U.S. forces disabling two Iranian oil tankers.

By BriefTea Editorial · 12 May 2026 at 4:21

Reported by Financial Times · How we write briefs

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