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2026-05-28 00:23:23
[Crude Oil Market More Optimistic About US-Iran Deal] Crude oil futures fell to their lowest level in a month as the market hoped the current US-Iran talks would lead to an agreement to end the conflict. "This is the strongest or most sustained price reaction to a potential agreement we've seen since the ceasefire," said Ajay Parmar, an analyst at energy intelligence firm ICIS. "I think it's because we've heard positive messages from both sides for the first time." In his view, several forces are pushing both sides toward an agreement. Parmar said the US blockade of the Strait of Hormuz is negatively impacting Iran, preventing its crude oil from being shipped out, while rising US Treasury yields are "really bad for the US economy," meaning President Trump "can't cut rates the way he wants." West Texas Intermediate crude fell 3.86% to $90.03 a barrel; Brent crude fell 6.34% to $93.39 a barrel.
