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Posted on 05/25/2026 8:48:45 PM PDT by nickcarraway
Brent crude dropped below US$97 a barrel after both sides said talks had made progress.
Oil prices fell nearly 7 per cent on Monday (May 25) as optimism grew that the United States and Iran were moving closer to a peace deal that would reopen the Strait of Hormuz, even though Washington and Tehran played down hopes for an imminent breakthrough.
Brent crude futures LCOc1 were down US$7.24, or almost 7 per cent, at US$96.30 a barrel at 2:29pm ET (Tuesday, 2:29am, Singapore time) and US West Texas Intermediate CLc1 futures were down US$6.30, or 6.5 per cent, at US$90.88.
Trading volumes were light due to the US Memorial Day holiday.
(Excerpt) Read more at channelnewsasia.com ...
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All headlines in last 30 minutes:
US bombs some Iran missile sites
Iran walks back nuclear promises
Oil drops 7%
make it make sense!
i heard rumor that they won’t open the strait until 30 days after the deal is done... i hope that’s not true
i might have to take a private jet instead of driving
Sad for the msm that pushes for $200 oil, as they did at the start of the Iran war.
Iran hasn’t walked back anything.
Their position was that the points in the memorandum of understanding would have to be met first before real negotiations would begin having anything to do with the nuclear program and a number of other issues.
So this was not a peace proposal in any sense.
What is simply amazing in watching the markets tonight is the fact that Oil dropped even on the news of the US attack on Iran.
It’ll be interesting to see how the markets open in the morning at 8:30 central standard time so we could see exactly what’s gonna be coming forth for the day.
Netanyahu is the wildcard here given that he is not going to quit the war in Gaza or have any type of cease-fire in Lebanon.
If those conditions aren’t met, then I would imagine all peace talks will be off.
Oil is already selling for $150-$200 a barrel in a number of places in the world it’s not showing up in the futures market because they’re being manipulated to try to keep the price down under $100.
Call it Shipping & Handling.
Here is my question if the strait is so darn important how come all it takes is trump saying something and oil prices drop without anything actually happening so what does that tell ya
Yes tat series of news tidbits seems counterintuitive. We all know the muzzies are crazy, and they will never honor any deal. WTI goes back up to $105 once this becomes clear.
All this blabbing is getting ridiculous.
There isn’t going to be any deal with the shiite psychomullahs.
The other Arab countries can’t get their shit together any more than the EU can….they all end up doing NOTHING.
The US has already bombed missile sites in southern Iran.
They should just keep bombing.
The demoncrats will attack Trump no matter what he does.
Demoncrats aren’t even Americans anymore.
They hate America…….they’re on Iran’s side.
Woohoo! Gas to plummet to below $6/gal in Commiefornia soon? Please let it be so.
John Maynard Keynes, who had large gains and losses speculating on the stock market, realized that the economics of an asset don’t determine its price, but the traders’ views of the economics of the assets do.
Not sure this price drop will age well🤔
Agreed but many people only see the small picture
They can open the strait in five minutes. Until it is open there is no deal. They are finding out President Trump is not a pushover.
No, the drop has nothing whatsoever to do with any deal. It is all about China getting some tankers thru.
This will allow speculators to bid lower on some oil — and cash in when the stupid-ers see that no deal is forthcoming ‘cause there are still Shia Mullahs and IRGC thugs alive.
What the regular fuel consumers want to hear, is the price cuts for gasoline and diesel.
7% or 10% or 20% or 50% cuts in regular fuel prices; let’s hear that kind of talk. Talk to the people, not the governments or oil producers or refineries or energy investors.
John Maynard Keynes was the second worst Nobel Prize winner for Economics; EVER.
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