Oil slides as US-Iran talks boost Hormuz hopes
TL;DR Summary
Oil prices fell about 7% on Monday as optimism grew that the United States and Iran were moving toward a peace deal that could reopen the Strait of Hormuz, easing supply risks, with Brent dipping to around $96.30 a barrel and WTI near $90.88. Analysts warned the deal isn’t guaranteed and even if reached, full normal flows would take months; volume was light due to Memorial Day. Trump touted talks on Truth Social while Iran said it’s negotiating an end to the war, not nuclear issues.
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- Oil Edges Higher, U.S. Futures Pare Gains as U.S.-Iran Tensions Rise WSJ
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