Oil prices jump 2% after UAE nuclear plant attack amid 80-day Hormuz closure

May 18, 2026 - 08:00
Oil prices jump 2% after UAE nuclear plant attack amid 80-day Hormuz closure

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Oil prices surged over 2% on Monday, driven by escalating Middle East tensions and stalled de-escalation efforts. Reports of a nuclear power plant attack and potential US military options against Iran further unsettled markets. Both Brent and WTI crude saw significant gains, continuing a sharp rally from the previous week.

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