Brent crude fell nearly 19% in May 2026, the worst monthly drop since COVID-era 2020, as US-Iran ceasefire hopes eased supply fears. Here's how it hit crypto.

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.

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

By Isabel Wang and Myra P. Saefong