International Oil Prices Plummet Amid Turnaround in Middle East Situation
International oil prices plummeted on the 20th after U.S. President Trump stated that negotiations with Iran are in the "final stages," renewing market hopes for the resumption of shipping in the Strait of Hormuz. West Texas Intermediate (WTI) crude for July delivery fell 5.7% to $98.26 per barrel, while London's North Sea Brent crude for July settlement slid 5.6% to $105.02 per barrel.
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- 📰 Published: May 21, 2026 at 06:20
- 🔍 Collected: May 21, 2026 at 06:31 (11 min after Published)
- 🤖 AI Analyzed: May 21, 2026 at 06:34 (2 min after Collected)
(CNA, New York, 20th, combined wire report) International oil prices plummeted today after U.S. President Trump said that negotiations with Iran have entered the "final stages," renewing market hopes for the resumption of shipping in the Strait of Hormuz. On the New York Mercantile Exchange, West Texas Intermediate crude for July delivery fell 5.7% to close at $98.26 per barrel. London's North Sea Brent crude for July settlement slid 5.6% to close at $105.02 per barrel. (Translator: Chen Cheng-chien) 1150521 Choose to stand with the facts; every contribution from you is a force that safeguards the freedom of the press. Download the CNA "First-Hand News" APP to get the latest news in real-time. The text, images, and videos on this website may not be reproduced, publicly broadcast, or publicly transmitted and used without authorization.