Oil prices dropped over 4% after President Trump indicated that talks with Iran regarding its nuclear program were moving forward in a calm manner, but cautioned against pushing for a quick agreement.
The price of West Texas Intermediate crude oil fell 4.61% to $92.10 a barrel, and Brent crude dropped 4.44% to $98.90 a barrel. These price declines affected the entire energy market.
Gasoline futures decreased by 4% to $3.30 per gallon, while heating oil fell 3.2% to $3.70. Natural gas prices also declined slightly, dropping 0.61% to $2.88.
Trump’s Iran Post Reset the Oil Risk Premium
Oil prices rose significantly during the conflict, even surpassing $110 a barrel in early May. However, recent signs of easing tensions have caused prices to fall.
Trump’s statement emphasized a need for a measured approach rather than rushing into action. He expressed gratitude to Middle Eastern partners for working together and suggested that Iran might one day participate in the Abraham Accords.
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President Trump stated that talks are moving forward positively and productively, and he’s advised his team not to feel pressured to reach an agreement quickly, as we have time on our side. He emphasized the importance of both sides taking the necessary time to ensure the deal is correct, stressing that mistakes cannot be made.
— The White House (@WhiteHouse) May 24, 2026
Asian Stocks Rally and Crypto Edges Up as Risk Premium Fades
Energy prices fell, but investments generally did well. Japan’s Nikkei 225 stock index closed above 65,000 for the first time on Monday, and South Korea’s KOSPI rose slightly, gaining 0.41% in early trading.
Cryptocurrency markets saw slight increases recently. According to BeInCrypto Markets data, the overall market value rose by 0.2% in the last 24 hours. Bitcoin (BTC) remained around $77,000 after bouncing back from a low of $74,277.
Negotiations haven’t resulted in an agreement yet, and the shipping restrictions remain. Traders will be watching for official news as the trading day begins. If the shipping lane reopens, it could cause oil prices to fall. However, if talks fail, the factors that have pushed oil prices up over the last three months – mainly global political instability – will likely return.
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2026-05-25 05:47