Crude oil prices plunged over 5% as reports surfaced of the US and Iran nearing a Memorandum of Understanding, pushing Brent below $100 and WTI towards $90 a barrel.
Brent crude fell 5.1% to $98.22/barrel on US-Iran peace deal speculation, below $100 for the first time this month. A Strait of Hormuz reopening (20%+ of global oil traffic) could ease energy costs and cut infrastructure OPEX for data centers and logistics.
Brent crude fell over 5%
May 25, 2026
08:57 am
What's the storyOil prices have taken a major hit today, falling over 5% amid speculation of a potential deal to end the ongoing war between the United States and Iran.
The conflict started in February, with a ceasefire observed since April. Mediators are working toward a settlement amid ongoing tensions.
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