Oil Prices Rebound as Peace Deal Hopes Face Doubts

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On May 7, 2026, oil prices recovered as investors reassessed the uncertain path toward a Middle East peace agreement after a sharp market selloff.

Oil Prices Rise as Middle East Talks Stay Uncertain

Oil prices climbed on Thursday after tumbling more than 7% in the previous session, as investors weighed fragile peace negotiations in the Middle East. Brent crude futures gained 0.5% to $101.81 a barrel, while U.S. West Texas Intermediate rose 0.5% to $95.53 by 0615 GMT.

The market rebound followed renewed doubts over how quickly diplomatic progress could materialize. Comments from Washington and Tehran signaled negotiations were still evolving, despite reports suggesting an agreement could be nearing completion.

Oil Prices Recover After Sharp Weekly Drop

Analysts said oil prices may remain volatile as traders monitor developments tied to regional stability and energy supply risks. “Markets are still caught between diplomacy and disruption,” analysts said, highlighting the uncertainty shaping crude trading.