Hong Kong, May 12, 2026 (AFP) - Oil climbs but markets shrug off US-Iran deadlock

NAMPA / AFP

2026-05-12

Oil prices climbed on Tuesday as US-Iran talks stalled, while markets were mixed as traders appeared to shrug off uncertainty over the 10-week-old war. Optimism over Washington's proposal to Iran to ease the conflict collapsed when Trump told reporters on Monday that Iran's counter-offer was "garbage". Trump warned that Tehran's rejection of his administration's demands meant the already tenuous ceasefire is now "unbelievably weak". The impasse,......

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