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CRISIS. 3D-printed oil pump jacks, Iranian flag, and a rising stock graph appear in this illustration taken March 2, 2026.
Major disagreements remain, and Donald Trump instructs US negotiators not to rush into any agreement with Iran
SINGAPORE – Oil prices fell to two-week lows on Monday, May 25, as optimism grew that the United States and Iran were moving closer to a peace deal, even as both sides remained divided on key issues, including restrictions in the Strait of Hormuz that continue to disrupt Middle East oil supplies.
Brent crude futures dropped 4.55% to $98.83 a barrel, while US West Texas Intermediate crude fell 4.73% to $92.03 a barrel. Both benchmarks earlier touched their lowest levels since May 7.
