MarketsExpectations of improved US-Iran relations send oil price lower May 28, 2026 at 5:00 am (Dorothy Kgosi) Brent crude fell about 3.8% on Wednesday as expectations of improved US-Iran relations raised the prospect of restored oil flows through the Strait of Hormuz. In addition, Reuters reported a pick-up in tanker traffic through the strait. oil priceWould you like to comment on this article?Sign up (it's quick and free) or sign in now.Sign UpLog InPlease read our Comment Policy before commenting.Editor’s Choice1DUMISANI JANTJIES | State must be proactive in inflation battle 2PETER BRUCE | Oil and gas are no longer the fuels of the future3GUGU LOURIE | Broll integrating intelligence before next growth phase4GHALEB CACHALIA | Calls to boycott Dis-Chem are misguided5DESMOND LACHMAN | America caught in a pincer of its own making