Business

Oil Prices Fall on Iran Deal Report

Updated 2026-05-27 12:50 UTC 1 source Negative

U.S. crude oil prices dropped by about 6% as a report suggested that Iran would restore traffic through the Strait of Hormuz in one month, easing concerns over supply disruptions.

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CNBC

U.S. oil falls below $89 on report Iran agreement would restore Hormuz traffic in one month

U.S. crude oil prices fell about 6% Wednesday on a report Iran would restore traffic through the Strait of Hormuz as part of a framework deal with the U.S.

2026-05-27 12:45 UTC