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Oil Falls as U.S.-Iran Deal Hopes Lift Risk Appetite

2026-05-24 22:54:38

Abstract generation in progress

WTI crude oil plunged more than 5% in early trading on May 25 as optimism grew over a possible U.S.-Iran deal to reopen the Strait of Hormuz. A senior U.S. official said the two sides are close to an agreement, but final approval could take several days. Iran's Tasnim news agency warned that the draft agreement could collapse.

CL-0.64%

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