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Oil prices fall more than 4% after Trump says Iran talks proceeding in a 'constructive manner'

CNBC · May 24, 2026, 10:47 PM · Also reported by 4 other sources

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  • Crude oil prices fell more than 4% on Sunday, after President Donald Trump indicated that talks with Iran to reopen the Strait of Hormuz are advancing.
  • West Texas Intermediate futures fell nearly 5% to $92.05 per barrel by 6:40 p.m.

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Crude oil prices fell more than 4% on Sunday, after President Donald Trump indicated that talks with Iran to reopen the Strait of Hormuz are advancing.

West Texas Intermediate futures fell nearly 5% to $92.05 per barrel by 6:40 p.m. ET. International benchmark Brent futures also lost almost 5% to $98.88 per barrel.

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