Published May 12, 2026, 6:03 PM ET · Updated 6 months ago · 1 source
Oil Holds Gain With Iran’s Exports Strained as Conflict Drags On
bloomberg
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Original Report
INFERY
Oil prices held steady as the conflict in the Middle East continues, effectively closing the Strait of Hormuz. Satellite images show no tankers at Iran's Kharg Island terminal, indicating a potential halt in exports. This disruption, coupled with a US blockade of Iranian ports, is exacerbating inflation concerns and driving up gasoline prices ahead of US midterm elections.