Oil drops 20% from 2026 peak on optimism over U.S.-Iran ceasefire talks
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Source: CNBC
Published: 2026-05-29 20:51 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Middle East, Iran, Energy, World News, US Politics, War & Conflict
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Snippet:
Global oil prices have tumbled by around 20% from 2026 highs as investors have grown increasingly optimistic on prospects for a long-lasting ceasefire deal between the U.S. and Iran, which would unlock shipping through the Strait of Hormuz.
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