Oil prices close higher after volatile session as market assesses US-Iran ceasefire outlook
On May 22, oil prices experienced a volatile session in New York as the market assessed the outlook for a US-Iran ceasefire, ultimately closing slightly higher. WTI crude futures rose 0.3% to $96.60 per barrel, while Brent crude futures rose 0.9% to $103.54.
📋 Article Processing Timeline
- 📰 Published: May 23, 2026 at 07:03
- 🔍 Collected: May 23, 2026 at 07:31 (28 min after Published)
- 🤖 AI Analyzed: May 31, 2026 at 21:01 (205h 29m after Collected)
Oil prices saw a volatile session today as the market assessed the outlook for a ceasefire agreement between the United States and Iran, ultimately closing slightly higher. The price of West Texas Intermediate (WTI) crude for July delivery in the New York market rose 0.3% to close at $96.60 per barrel. The price of Brent crude for July delivery in the London market rose 0.9% to close at $103.54 per barrel.
FAQ
How does the US-Iran situation affect oil?
Uncertainty regarding the ceasefire negotiations is causing market volatility.