Oil prices fall as Trump says Iran war could end soon
5/20/2026 10:34:34 AM
Oil prices have fallen after Trump again said that the Iran war would end “very quickly”.
By 04:10 GMT, Brent crude oil futures LCOc1 fell 88 cents, or 0.8 percent, to $110.40 a barrel, while US West Texas Intermediate futures CLc1 were down 67 cents, or 0.6 percent, to $103.48.
“Benchmark prices softened on a potential deal as the market gauges the geopolitical outcomes,” Emril Jamil, a senior oil research analyst at LSEG told the Reuters news agency.
“However, prices are likely to still exhibit some upside potential even if a deal is concluded, given that supply will likely not return to pre-war levels immediately,” he said.
Moreover, both benchmarks fell nearly $1 yesterday after US Vice President JD Vance said the US and Iran had made progress in talks.
By 04:10 GMT, Brent crude oil futures LCOc1 fell 88 cents, or 0.8 percent, to $110.40 a barrel, while US West Texas Intermediate futures CLc1 were down 67 cents, or 0.6 percent, to $103.48.
“Benchmark prices softened on a potential deal as the market gauges the geopolitical outcomes,” Emril Jamil, a senior oil research analyst at LSEG told the Reuters news agency.
“However, prices are likely to still exhibit some upside potential even if a deal is concluded, given that supply will likely not return to pre-war levels immediately,” he said.
Moreover, both benchmarks fell nearly $1 yesterday after US Vice President JD Vance said the US and Iran had made progress in talks.