OREANDA-NEWS  Global Brent crude oil prices rose sharply on May 26, rising above $100 per barrel again. By the time of writing, the indicator had grown by 4.64 percent, to $100.6, according to trading data.

The cost of hydrocarbons has become triple-digit again after a brief rebound to $ 95 amid Donald Trump's latest statements about progress in negotiating an agreement with Iran. The subsequent US strikes and Tehran's promises "not to leave any atrocity unanswered" showed that the situation is still unstable.

"A peace agreement that would end the conflict and open the Strait of Hormuz to tankers is still elusive," writes Reuters, noting that, according to U.S. Secretary of State Marco Rubio, negotiations may take at least several days.

As emphasized by Ole Hansen from Saxo Bank, who is also referred to by the agency, the agreements will not lead to an automatic restoration of supply volumes from January to February, and "the current supply shortage may persist for several more months."