Oil Prices Fall 3% on Trump Comments and Peace Talk Hopes
Brent crude dropped to $108.31 a barrel after President Trump suggested the Iran conflict could end quickly. Despite the price dip, analysts warn of a looming supply crunch as global inventories fall and traffic through the Strait of Hormuz remains significantly below pre-war levels.
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Brent Crude Oil futures fell 2.7% to $108.31 on May 20 after the United States president signaled a quick end to the conflict with Iran. Both major benchmarks are tracking their largest daily percentage drops in two weeks. Investors are weighing political optimism against a physical supply crunch that keeps global inventories at critical levels.
