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2026-05-27 17:19:20
[Brent Crude Falls About 3% to $96.6, Nearing Five-Week Low] ⑴ Brent crude futures fell about 3% to $96.6 a barrel on Wednesday, nearing a five-week low, as market optimism grew regarding a potential peace agreement between the US and Iran, despite ongoing hostilities and uncertainty surrounding the Strait of Hormuz. ⑵ The US Secretary of State stated that a potential agreement could still take several days to finalize. Meanwhile, the US military struck targets near the strait, while Iran's Islamic Revolutionary Guard Corps claimed to have fired on several US aircraft that entered Iranian airspace. ⑶ This vital waterway typically handles about 20% of global oil and liquefied natural gas shipments and remains largely closed due to blockades by both sides. ⑷ However, reports indicate that two non-Iranian very large crude carriers successfully left the chokepoint on Tuesday, marking the first significant unrestricted crude oil transport in a week.
