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Oil Prices Plunge Sharply, Dropping Below $100

Editorial staff
25 May 2026, 09:58
Oil Prices Plunge Sharply, Dropping Below $100 Photo Author: Pixabay

Oil prices on the global market have fallen below $100, reaching their lowest level in the last two weeks.

According to experts, this situation occurred following statements suggesting potential progress in negotiations between the US and Iran.

At 02:45 AM Astana time, the moment the Asian market opened, oil prices immediately plummeted from approximately $104 to $95.

Donald Trump stated that Washington and Tehran might reach a mutual understanding on a peaceful settlement. According to him, the parties have reached a "general agreement" on the relevant memorandum.

Experts say that if such an agreement is implemented, oil transportation through the Strait of Hormuz could stabilize, and market risks could decrease.

#Oil prices #Global market #Market crash #US-Iran negotiations #Donald Trump #Asian market #Strait of Hormuz #Oil transportation #Geopolitics #Energy market #Commodity trading #Economic news

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