International oil prices plunge 5% on optimism over US-Iran peace talks
International oil prices fell sharply due to renewed hopes for progress in US-Iran peace negotiations.
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- 📰 Published: May 27, 2026 at 22:27
- 🔍 Collected: May 31, 2026 at 23:47 (97h 20m after Published)
- 🤖 AI Analyzed: June 2, 2026 at 00:54 (25h 6m after Collected)
International oil prices fell sharply today, driven by renewed hopes for progress in peace negotiations between the United States and Iran. According to AFP, the international benchmark Brent crude dropped by 5% at one point, trading at $94.61 per barrel. Meanwhile, the main US crude futures, West Texas Intermediate (WTI), plunged 5.9% to $88.31 per barrel.
FAQ
How does this affect Taiwan?
As an energy importer, lower oil prices help Taiwan curb inflation.