Oil prices ease on renewed hopes of US-Iran peace deal

Oil prices ease on renewed hopes of US-Iran peace deal Business

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06:14

Issued on: 25/05/2026 - 11:07

06:14 min Share Play (06:14 min) From the show Reading time 1 min

Oil futures slid on Monday as traders assessed US President Donald Trump's announcement over the weekend that a deal with Iran had been "largely negotiated". The benchmark Brent crude still remains much higher than when the war started on February 28. Also in this edition: some commercial vessels are managing to cross the Strait of Hormuz. Plus, Ferrari is set to launch its first fully electric supercar model.

By: Charles PELLEGRIN Bryan QUINN Advertising Related keywords

• Oil and gas industry
• Strait of Hormuz
• shipping
• Iran war