Oil Prices Volatile on Uncertainty Over US-Iran Deal Resolution
Key takeaways
- On May 21, Brent crude settled at $102.58 per barrel down $2.44 (2.3%) and WTI at $96.35 down $1.90 (1.9%), with prices whipsawing amid uncertainty over prospects for ending the US-Israeli conflict with Iran and supply disruptions via the Strait of Hormuz.
AI insight — what it means
Oil prices fell because traders are unsure if a deal will end the conflict involving Iran and affect oil supply routes. For everyday investors this means energy costs could stay unpredictable in the near term.
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