Oil slips to 2-week low as US-Iran seen moving closer to peace deal
Brent and West Texas Intermediate slipped more than 5% as traders bet a deal could reopen the Strait of Hormuz and ease supply disruptions.
- 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.
115 Articles
115 Articles
Brent's price was falling back on Sunday May 24th to its lowest level in a month and the dollar was weakening, given expectations that an agreement to reopen the Strait of Ormuz and restore the flow of oil might be near.The Brent dropped 4.0 percent in the first hours of market operation this Monday May 25th in Asia, to 99.4 dollars a barrel, its lowest level since April 24th, while the WTI was listed at $92.44, the lowest in two weeks, 4.3 perc…
An agreement between the US and Iran could become a reality, more tankers leave Hormuz. However, according to experts, the energy crisis will continue.
The oil is located in prices that were not reached since the beginning of the month, in view of the advance of the peace talks Trump says that the US and Iran are “near” a peace agreement The barrel of oil Brent for delivery in July falls strongly this Monday, almost 6%, to the 97 dollars, encouraged by the possibility that the United States and Iran will soon reach a peace agreement. Consistently, the European exchanges react with increases in …
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