May 25, 2026, 11:55 GMT
Global oil prices slipped as optimism grew over a potential peace agreement between the United States and Iran. Traders interpreted recent progress in negotiations—particularly Iran’s willingness to scale back uranium enrichment as a sign that tensions in the Gulf may be easing. Brent crude fell below $93 per barrel, while U.S. West Texas Intermediate futures also declined, reflecting expectations that shipping flows through the Strait of Hormuz could normalize.
Analysts caution, however, that unresolved issues—such as Iran’s missile program and regional military activity, still pose risks to stability. For energy markets, even the prospect of a deal has provided short-term relief, but volatility remains likely until a formal agreement is reached.
(Source – BBC)
—Agencies
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