Commodity poised for one of biggest monthly declines, while global stock markets rally

LONDON, May 27 : Oil prices fell by more than 3 per cent on Wednesday as traders weighed up progress in U.S.-Iran peace talks and renewed hostilities.Brent crude futures fell…

Oil prices fell as traders focused on hopes for a U.S.-Iran deal despite continued hostilities, tight inventories, and the effective closure of the Strait of Hormuz.

Oil prices plunged Wednesday on rekindled hopes for progress in US-Iran talks aimed at ending the war in the Middle East.

Oil prices fell on Thursday as hopes of a possible agreement between the US and Iran to prevent further escalation in the Middle East conflict and reopen the Strait of Hormuz…

Expectations of improved US-Iran relations send oil price lower

Brent crude surged over 2% to $98-$102 after US strikes on Iran torpedoed peace deal hopes. Bitcoin fell below $73K with $1B+ in liquidations.

Oil prices fell slightly on Friday after reports of a potential extension of a US-Iran ceasefire amid the ongoing Middle East conflict that has stretched beyond three months.

Oil prices dropped sharply, with Brent nearing $93 per barrel, as the US and Iran tentatively agreed to extend a truce, potentially easing Strait of Hormuz shipping restrictions.

Commodity poised for one of biggest monthly declines, while global stock markets rally

Global oil prices have retreated sharply amid hopes that a lasting Middle East ceasefire can unlock the Strait of Hormuz.

Oil prices are on track for a 19% monthly drop in May, the steepest since 2020, as traders bet on a U.S.-Iran deal despite the Strait of Hormuz remaining blocked.

The average price of gas fell 17 cents since its peak earlier this month, but it’s still 47% higher than it was at the start of the Iran war.

By Isabel Wang and Myra P. Saefong

Global markets rallied as oil prices hit seven-week lows. Hopes for a peace deal between the US, Israel, and Iran eased inflation fears. Brent crude and WTI saw sharp declines.…