25.05.2026 09:50
The price of Brent crude oil per barrel fell more than 5% on international futures markets to $95.10, following statements that the US and Iran are close to reaching a compromise.
The price of Brent crude oil fell more than 5 percent in international futures markets following statements that the US and Iran are close to reaching a deal.
After rising to $102.77 on Friday, Brent crude oil closed the day at $100.21. The futures price of Brent crude fell approximately 5.1 percent compared to the closing price, reaching $95.10 as of 09:08 today. At the same time, West Texas Intermediate (WTI) crude oil decreased by 5.6 percent, trading at $91.20 per barrel. The decline in prices was driven by statements that the US and Iran are close to a deal.
TRUMP: NEGOTIATIONS ARE PROGRESSING IN AN ORDERLY AND CONSTRUCTIVE MANNER
US President Donald Trump stated in a post on social media yesterday that negotiations with Iran are progressing in an "orderly and constructive" manner. Trump noted that they will not rush for a good deal and that the US will continue to enforce a naval blockade on Iranian ports until an agreement is reached. These developments strengthened expectations that the two countries could approach a consensus on reopening the Strait of Hormuz and ensuring uninterrupted oil supply.
RETURN TO NORMAL OIL FLOW COULD TAKE MONTHS
Experts estimate that it will take months for oil flow through the Strait to return to normal until repairs on damaged oil and natural gas facilities are completed. It is noted that technically, resistance for Brent crude can be monitored at $107.19, while support is seen at $92.93.