Oil prices fall below $100 a barrel on hopes of Iran peace deal
Oil prices have fallen below $100 a barrel amid hopes for a peace deal between the US and Iran. Brent crude futures dropped 6% to $97.28, the lowest in two weeks, as stock markets reacted positively. However, key issues remain unresolved, and analysts caution against overreacting to the potential agreement.
- ▪Brent crude futures fell to $97.28 a barrel, the lowest level in two weeks.
- ▪The US and Iran are negotiating a peace deal, but remain at odds over key issues.
- ▪Japan's Nikkei rose nearly 3%, while the pan-European Stoxx 600 index increased by 0.9%.
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A Japanese crude oil tanker that passed through the strait of Hormuz in April arrives off central Japan on Monday. Photograph: Kyodo News/APView image in fullscreenA Japanese crude oil tanker that passed through the strait of Hormuz in April arrives off central Japan on Monday. Photograph: Kyodo News/APOilOil prices fall below $100 a barrel on hopes of Iran peace dealBrent crude futures down 6% to lowest level in two weeks and stock markets riseJulia KolleweMon 25 May 2026 08.43 EDTFirst published on Mon 25 May 2026 06.31 EDTSharePrefer the Guardian on GoogleOil prices fell below $100 a barrel on Monday and stock markets rose on hopes that the US and Iran are inching closer to a peace deal.Brent crude futures, the global oil benchmark, were down 6% to $97.28 a barrel, the lowest level in…
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