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Hopes for US-Iran deal send oil price down to $98 per barrel

2026-05-25 08:12:02Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Hopes for US-Iran deal send oil price down to $98 per barrel

Oil prices have fallen significantly in international markets, this Monday, May 25, while Asian stock markets have risen strongly, following signals of a possible agreement between the US and Iran that could end the tensions of the Israel-Iran war.

US President Donald Trump said on Saturday that a deal with Tehran had been "very much negotiated" and that details were expected to be made public soon. However, a day later he urged US negotiators not to rush to finalise it.

In Asian markets on Monday, Brent crude fell 5.5% to $97.90 a barrel, while U.S. crude fell 5.8% to $90.99 a barrel.

Trump had previously stated that the agreement would also include the reopening of the Strait of Hormuz, one of the world's most strategic energy corridors, without providing further details.

The strait, through which about 20% of global oil and liquefied natural gas (LNG) supplies pass, has been virtually blocked since the conflict began on February 28.

News of easing tensions also had a positive impact on Asian stock markets. Japan's Nikkei 225 index rose 2.9%, surpassing the 65,000-point mark for the first time.

Japan and South Korea are considered among the countries most affected by the crisis, due to their high dependence on energy coming from the Persian Gulf.

Meanwhile, financial and energy markets in the US and the UK remained closed on Monday due to public holidays.

Trump also announced that he had a "very good call" with the leaders of Saudi Arabia, the United Arab Emirates, Qatar and other countries in the region regarding a "memorandum of understanding for peace."

"A deal has been extensively negotiated and is awaiting finalization between the US, Iran and other countries involved," he declared.

The US president stressed that any agreement would "absolutely" prevent Iran from obtaining nuclear weapons.

However, on Sunday Trump warned of caution in the negotiating process, writing on Truth Social: Both sides must take their time and do it right. There must be no mistakes!

On the other hand, Iranian Foreign Ministry spokesman Esmaeil Baqaei stated that positions between Washington and Tehran have been closer over the last week, but added that there is still no agreement on key issues, accusing the US of "contradictory statements."

Global energy markets have experienced sharp fluctuations since early March, when Iran threatened to attack ships using the Strait of Hormuz in response to US and Israeli military operations.

Although oil prices fell sharply this Monday, they still remain higher compared to the pre-conflict period, when Brent traded around $70 per barrel.

Energy expert Saul Kavonic of MST Financial said markets are seeing "a light at the end of the tunnel," but warned that full normalization of the oil market could take until 2027.

According to him, time is needed to fully restore transportation through the Strait of Hormuz, repair damaged infrastructure, and rebuild global oil reserves, which have fallen significantly since the start of the war.


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