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mahatmakanejeeves

(70,889 posts) Mon May 25, 2026, 06:16 AM 5 hrs ago

Oil Prices Fall Sharply on News of Possible Iran Deal

Source: New York Times

Oil Prices Fall Sharply on News of Possible Iran Deal

By Jack Ewing
Published May 24, 2026
Updated May 25, 2026, 4:43 a.m. ET

Oil prices fell sharply on Monday after American officials said that the United States and Iran had agreed in principle to a peace deal that would reopen the Strait of Hormuz. But final approval of a deal could take days.

The deal would reopen the waterway between Iran and Oman, a vital trading route for oil and natural gas that normally carries up to one-fifth of the world’s oil supply. In addition, Iran would commit to disposing of its highly enriched uranium, said a U.S. official.

Iran’s leaders and official state media have not publicly commented on what a potential agreement would say or what is being discussed.

Oil prices fall.

* The price of Brent crude, the global benchmark for oil, was down about 5 percent, to around $95 a barrel, for August delivery.

* West Texas Intermediate crude, the U.S. benchmark, also fell 5 percent, to around $92 a barrel, for July delivery.

{snip}

Read more: https://www.nytimes.com/2026/05/24/business/oil-stocks-gas.html

8 replies

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Highlight:

Oil Prices Fall Sharply on News of Possible Iran Deal (Original Post) mahatmakanejeeves 5 hrs ago OP

*FACEPALM* Wait til Tuesday... Earth Bound Misfit 5 hrs ago #1

How much money will Trump make on the stock market tomorrow? no_hypocrisy 4 hrs ago #2

Hope it holds for 36 hours bucolic_frolic 4 hrs ago #3

ALL of the business media keep dipping and dodging around the actual prices crude BumRushDaShow 3 hrs ago #4

Market manipulation. sinkingfeeling 2 hrs ago #5

"Oil Prices Fall Sharply on News of Possible Iran Deal" J_William_Ryan 2 hrs ago #6

People are to slow to realize their gas prices will remain the same mymomwasright 20 min ago #7

They Never Rebl2 2 min ago #8

Earth Bound Misfit

(3,586 posts)

1. *FACEPALM* Wait til Tuesday...

Reply to mahatmakanejeeves (Original post)

Mon May 25, 2026, 06:27 AM

5 hrs ago

no_hypocrisy

(55,438 posts)

2. How much money will Trump make on the stock market tomorrow?

Reply to mahatmakanejeeves (Original post)

Mon May 25, 2026, 06:33 AM

4 hrs ago

(Markets are closed on Memorial Day.)

bucolic_frolic

(55,903 posts)

3. Hope it holds for 36 hours

Reply to mahatmakanejeeves (Original post)

Mon May 25, 2026, 06:54 AM

4 hrs ago

I'm short oil. Now understand this is not a big play, but it might pay off in half a tankful.

BumRushDaShow

(172,536 posts)

4. ALL of the business media keep dipping and dodging around the actual prices crude

Reply to mahatmakanejeeves (Original post)

Mon May 25, 2026, 08:10 AM

3 hrs ago

and at least comparing with the pre-war figures, simply characterizing the day-to-day ups and as "up sharply" or "down sharply", but never emphasizing "from what amount".

I.e. they refuse to note that crude has been mostly trading in the $90 - $100/bbl range for MONTHS (with a few upward and downward spikes) after sitting in the $60 - $80 range for a couple years.