25.05.2026, 09:08
Oil prices fell after Trump's words
Source: OREANDA-NEWS
OREANDA-NEWS Oil prices fell on Monday, May 25. This is evidenced by trading data on the London stock exchange ICE.
Contracts for the supply of benchmark Brent North Sea crude in July fell below $99 per barrel for the first time since May 11. At the minimum, prices fell to 97.29 dollars, having lost more than five percent to the previous closing price.
The price of Texas WTI crude oil for July delivery also fell by about 6.73 percent to $90.47 per barrel.
Raw materials are getting cheaper after US President Donald Trump announced that Washington and Tehran had previously agreed to extend the ceasefire for 60 days. According to the Washington Post, a framework memorandum of understanding is needed to finalize the conflict resolution process. According to Axios, the document should extend the truce between the states and oblige Iran to open the Strait of Hormuz to navigation.
According to CNN, the latest versions of the memorandum of understanding between the United States and Iran provide for the gradual opening of the Strait of Hormuz and the end of the American blockade of Iranian ports. After that, the parties will settle other controversial issues, such as Iran's nuclear program.
Contracts for the supply of benchmark Brent North Sea crude in July fell below $99 per barrel for the first time since May 11. At the minimum, prices fell to 97.29 dollars, having lost more than five percent to the previous closing price.
The price of Texas WTI crude oil for July delivery also fell by about 6.73 percent to $90.47 per barrel.
Raw materials are getting cheaper after US President Donald Trump announced that Washington and Tehran had previously agreed to extend the ceasefire for 60 days. According to the Washington Post, a framework memorandum of understanding is needed to finalize the conflict resolution process. According to Axios, the document should extend the truce between the states and oblige Iran to open the Strait of Hormuz to navigation.
According to CNN, the latest versions of the memorandum of understanding between the United States and Iran provide for the gradual opening of the Strait of Hormuz and the end of the American blockade of Iranian ports. After that, the parties will settle other controversial issues, such as Iran's nuclear program.
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