Crude oil prices rise above $102 after earlier slide

7 articles · Updated · MarketWatch · May 7

Brent futures fell to $96.03 on Thursday before rebounding past $102 as traders awaited concrete terms of a reported US-Iran deal to end the war.
The recovery came after Wednesday's report that Washington and Tehran were close to an agreement, but fresh details failed to emerge and equity markets also turned lower.
The moves highlight continued volatility in energy markets, with prices swinging sharply as investors weigh geopolitical developments against broader risk sentiment.

Are rumored peace talks enough to tame a volatile oil market, or is a deeper economic shock inevitable?

With the Strait of Hormuz closed, how will the worst oil supply shock in history reshape the global economy?

Beyond the pump, how is the conflict in Iran creating a hidden crisis for the world's food and fertilizer supply?