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.

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 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.

Brent dropped toward $92 a barrel, down 19% this month, while West Texas Intermediate was below $88.

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 fell sharply as traders focused on the prospect of a U.S.-Iran diplomatic breakthrough despite ongoing supply disruptions, declining inventories, and continued risks in…

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.

Brent crude is heading for its biggest weekly drop in two months as markets bet on a 60-day ceasefire extension and partial reopening of the Strait of Hormuz.

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

By Isabel Wang and Myra P. Saefong

Oil prices dropped 20% in May, the largest monthly decline in six years. New all-time high by May 31 at 0.3% YES.

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