Oil slips to 2-week low as US-Iran seen moving closer to peace deal
Brent and WTI slid as traders bet a US-Iran peace deal could ease Strait of Hormuz supply risks, though major disputes remain unresolved.
- On Monday, global crude oil prices hit two-week lows as optimism grew over a potential United States-Iran peace deal to reopen the blocked Strait of Hormuz.
- The Strait, which previously carried one-fifth of global oil and liquefied natural gas shipments, has remained effectively closed since the conflict between the United States, Israel, and Iran began on February 28, 2026.
- President Donald Trump said on Saturday that Washington and Tehran had "largely negotiated" a memorandum of understanding, while also reporting a "very good call" with Israeli Prime Minister Benjamin Netanyahu.
- Despite progress, Trump cautioned on Sunday against any "rush" to finalize the deal, while Iranian foreign ministry spokesman Esmaeil Baqaei accused the United States of issuing "contradictory statements."
- MST Marquee analyst Saul Kavonic noted "some light at the end of the tunnel," though markets will likely remain tight through 2027 as Japan's Nikkei 225 stock index rose above 65,000.
76 Articles
76 Articles
Three LNG tankers from the Persian Gulf have passed through the Strait of Hormuz in recent days, offering limited signs of de-escalation.
Oil prices are falling sharply today, down about 6 percent and hitting a two-week low, helped by growing optimism that the United States and Iran are moving closer to a peace deal.
Is Trump's deal about to happen? The US president suddenly takes care, but the oil price is already falling.
Madrid, 25 May (EFE).- The barrel of Brent oil for delivery in July falls sharply this Monday, almost 6%, up to 97 dollars, encouraged by the possibility that the United States and Iran will reach an imminent peace agreement. At 7:15 this Monday, Brent oil, the reference oil in Europe, drops 5.8%, to 97.60 dollars a barrel in the London futures market. However, during this morning, at 5:35 hours, the Brent has come down even further and has touc…
Gas Prices Will Only 'Plummet' After Ships Start Moving Through The Strait Of Hormuz, Says This GasBuddy
As talks of a deal between Washington and Tehran gained steam over the weekend, GasBuddy analyst Patrick De Haan opined on Sunday about how gas prices will fall. Gas Prices To Plummet De Haan took to X, quoting a post by a user who predicted that gas prices would fall in the coming days following talks of a possible deal. data-variant="card" data-news-mode="manual" > Read Also: Iran's Strait Of Hormuz Toll System Sparks Sanctions Push As Trum…
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