Stories

Mon, 25 May 2026

Mon, 25 May 2026 Oil prices slide on hopes of US-Iran peace deal

Trump said on Saturday that an agreement would include the reopening of the Strait of Hormuz, without giving further details.

* Oil prices have fallen sharply: + Brent: down by 5.5% at $97.90 (£72.64) + US-traded crude: 5.8% lower at $90.99
* Asian stock markets have risen: + Nikkei 225 index in Japan rose above 65,000 for the first time, gaining 2.9%
* Details of a potential deal between US and Iran are still unclear, but it is expected to include: + Reopening of the Strait of Hormuz shipping route + Extension of a 60-day ceasefire
* Impact on energy markets has been significant, with oil prices remaining higher than before the war: + Brent was trading at around $70 a barrel in the lead up to the conflict.