WTI and Brent Crude Fall 5% to Five-Week Lows Amid US-Iran Ceasefire Talks

GateNews
Brent crude traded near $99 per barrel and West Texas Intermediate (WTI) slipped below $93 on Tuesday (May 25), both hovering around five-week lows as markets weighed renewed US military strikes on Iranian missile sites against cautious optimism from ongoing ceasefire negotiations. The US military operation targeted infrastructure and vessels near the Strait of Hormuz, described by officials as a defensive measure. Simultaneously, discussions between Washington and Tehran continue, with both sides working toward a potential agreement to extend a ceasefire and reopen critical oil transit routes. President Trump signaled progress in talks while warning that further military action could follow if negotiations fail.
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