Oil rises on US-Iran deal uncertainty; Brent crude up by more than $2/bbl in Oil & Companies News 25/05/2026 Oil prices rose in early trade on Friday on uncertainty over a breakthrough in US-Iran peace talks, with the two countries remaining at odds over Tehran’s uranium stockpile and controls on the Strait of Hormuz. Brent climbs towards $105/barrel but still down more than 4% since start of week Iran’s stand on uranium enrichment and Strait of Hormuz control dampens hopes of deal with US Iran, Oman discuss possible permanent toll system at Hormuz At 01:00 GMT, US WTI increased by 1.6%, while Brent crude was up by 2.1%. US state secretary Marco Rubio said there had been “some good signs” in talks with Iran, but that any toll system in the Strait of Hormuz would be unacceptable. “Iran appears to be insisting on retaining its uranium stockpile domestically, while also proposing a toll system for transit through the Hormuz strait. It remains unclear whether a breakthrough is imminent,” said Japan’s MUFG Research analyst Lloyd Chan. The rebound on Friday followed three days of declines as statements by Iran on uranium and the Strait of Hormuz pared earlier optimism over progress in the negotiations. Conflicting statements on key issues raise doubts over possibility of a deal between the US and Iran amid renewed threats of war escalation in recent days, buffeting oil prices as traders try to estimate when energy flows through the strait will fully resume. The Strait of Homuz is a chokepoint for about 20% of the world’s oil supply. Iran’s Supreme Leader Ayatollah Mojtaba Khamenei was to have issued a directive stating that enriched uranium must stay in Iran, a key point of contention for the US during peace talks, according to newswire agency Reuters, citing senior Iranian sources. Israeli Prime Minister Benjamin Netanyahu suggested that the war will not be considered over until uranium is removed from Iran, heightening concerns that the war could be further away fro