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Oil prices fall amid hopes for US-Iran peace deal

2026-05-25 07:48:00, Kosova & Bota CNA

Oil prices fall amid hopes for US-Iran peace deal

Global oil prices have fallen sharply, while Asian financial markets have risen after signals of a possible peace deal between the United States and Iran, which could end tensions in the Middle East.

In Asian markets, Brent crude fell 5.5%, falling to $97.90 a barrel, while US WTI crude lost 5.8%, trading at $90.99.

The market reaction came after US President Donald Trump said a deal with Tehran was “largely negotiated” and that details were expected to be announced soon. However, a day later he warned that negotiations should not be rushed and that “there can be no mistakes”.

According to Trump, the deal could also include reopening the Strait of Hormuz, one of the world's most important shipping lanes for oil and gas. The strait has been virtually closed since the conflict began on February 28.

The Strait of Hormuz is considered vital to global energy trade, as about a fifth of the world's supply of oil and liquefied natural gas passes through it.

The optimism also weighed on Asian stocks. Japan's Nikkei 225 index rose 2.9%, surpassing the record level of 65,000 points for the first time. Japan and South Korea are among the countries most affected by tensions in the Persian Gulf due to their heavy dependence on energy imports.

On the other hand, Iranian Foreign Ministry spokesman Esmaeil Baqaei said that positions between the US and Iran have come closer over the last week, but stressed that there is still no agreement on key issues.

Market experts warn that, even in the event of an agreement, energy markets will remain tense for a long period. According to analysts, it will take years to fully restore global oil supplies and reserves to normal levels after the damage and disruptions caused by the conflict./ CNA





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