Iran Evaluates US Peace Proposal, International Oil Prices Plummet
International oil prices fell sharply following reports that Iran is evaluating a new US proposal aimed at ending a nearly 10-week war.
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- 📰 Published: May 7, 2026 at 05:48
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(Central News Agency, New York, 6th, comprehensive foreign report) Iran is evaluating a new proposal from the United States aimed at ending a war that has lasted nearly 10 weeks, causing international oil prices to fall significantly today. The June settlement price for West Texas Intermediate crude on the New York Mercantile Exchange fell 7%, closing at $95.08 per barrel. The July delivery price for North Sea Brent crude in London dropped 7.8%, settling at $101.27 per barrel. (Translated by: Chen Zhengjian) 1150507