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Oil Climbs As US-Iran Deadlock Pushes Into Another Week | Closing Bell
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May 11, 2026
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10:39Now PlayingWatch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.
A renewed advance in oil prices sent bonds lower after the US and Iran failed to agree on terms to end their war, dashing hopes for a revival of the Strait of Hormuz while stoking inflation concerns.
US crude settled around $98, with the near-halt of traffic through the waterway reigniting worries about further energy disruptions. The Treasury market, which has priced out the odds of Federal Reserve rate cuts this year amid the Middle East conflict, saw an increase in yields. A rally in chipmakers drove the S&P 500 to another closing high, but most of the gauge’s shares fell.
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