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Oil Price Impact (Percentage Drop)
Percentage decline in major oil benchmarks
Primary Sources
Oil Retreats As Market Weighs New Push for U.S.-Iran Deal
1511 ET – Crude futures lose ground but settle above the day’s lows as traders ponder the likelihood that the latest efforts toward U.S.-Iran talks will end in a peace agreement. “We have been down this road before, and the sense of optimism has faded to reality each time,” Mizuho’s Robert Yawger says in a note. But “if a lasting deal does take hold, look for oil to flow fast,” he adds. Floating storage abounds in the Persian Gulf and storage tanks are filled to the brim. “That oil would hit the market first.” WTI settles down 7% at $95.08 a barrel and Brent falls 7.8% to $101.27 a barrel.(anthony.harrup@wsj.com)Oil Tempers Losses As Trump Post Adds Caution About Iran Deal0834 ET – Oil futures curb some losses as President Trump suggests in a post that an agreement to end the conflict with Iran could still falter. “Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end,” Trump says on Truth Social. He reiterated threats to resume bombing at a greater level if Iran doesn’t agree. A report by Axios that the U.S. and Iran are close to a deal had sent Brent briefly below $100 a barrel. WTI is down 7.7% at $94.63 a barrel and Brent is down 6.8% at $102.38.(anthony.harrup@wsj.com)Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8VideosFurther Reading
Oil slips 6% as US, Iran seen moving closer to peace deal - MSN
SINGAPORE, May 25 (Reuters) - Oil prices fell 6% to two-week lows on Monday, as optimism grew that the United States and Iran were moving closer to a peace deal, even though they remain at odds ...
Oil slips 6% as US, Iran move closer to peace deal
Oil prices fell 6 percent to two-week lows on Monday, as optimism grew that the United States and Iran were moving closer to a peace deal, even though they remain at odds over key issues, such as blockades on the Strait of Hormuz.Brent crude futures fell $5.85, or 5.7 percent, to $97.69 a barrel by 0343 GMT, while US West Texas Intermediate were at $90.85 a barrel, down $5.75, or 6 percent. Both contracts touched their lowest since May 7 earlier in the session.On Saturday, US President Donald Trump said Washington and Iran had "largely negotiated" an understanding on a peace deal that would reopen the Strait of Hormuz, which had carried a fifth of global shipments of oil and liquefied natural gas before the conflict."Notwithstanding all the caveats and risks that remain to the peace deal and Strait of Hormuz, there is now some light at the end of the tunnel, which will bring some near-term oil price relief," said MST Marquee analyst Saul Kavonic.However, the two sides remain at odds on several difficult issues, with Trump saying on Sunday he had told his representatives not to rush into any deal with Iran."We've been at this stage before, only for talks to break down. Therefore, the market will likely be more cautious about overreacting," said Warren Patterson, head of commodities strategy at ING.Analysts expect a return to normal oil flows through the strait will take months, while damaged oil and gas facilities are repaired."The longer the crisis stretches, the more debatable it becomes whether world leaders genuinely want a quick end to disruptions," said Phillip Nova analyst Priyanka Sachdeva.U.S. energy firms responded to higher local energy prices by adding oil and natural gas rigs for the fifth week in a row, for the first time since February 2025.The rig count, an early indicator of future output, rose by seven to 558 in the week to May 22, its highest since June 2025. Even so, Baker Hughes said the total count was still down eight rigs, or 1 percent below this time last year."Momentum indicators suggest markets are attempting to stabilise after last week’s aggressive selloff, but conviction remains weak," Sachdeva said.-Reuters
Oil prices tumble over 6% on report of US peace proposal to Iran
Investing.com -- Oil prices slipped on Wednesday amid hopes of a potential deal between the U.S. and Iran, though Brent continued to hover above $100 a barrel on Tehran's rejection of a ceasefire.
