{"id":12,"date":"2026-05-25T03:37:38","date_gmt":"2026-05-25T03:37:38","guid":{"rendered":"http:\/\/asianewscast.com\/2026\/05\/25\/oil-slips-5-on-hopes-of-us-iran-deal\/"},"modified":"2026-05-25T03:37:38","modified_gmt":"2026-05-25T03:37:38","slug":"oil-slips-5-on-hopes-of-us-iran-deal","status":"publish","type":"post","link":"https:\/\/www.asianewscast.com\/?p=12","title":{"rendered":"Oil slips 5% on hopes of US-Iran deal"},"content":{"rendered":"<div class=\"content\">\n<div class=\"layout layout--onecol\">\n<div class=\"layout__region layout__region--content\">\n<section data-title=\"Leaderboard  01 Article\" class=\"block block-ad-entity block-ad-displayleaderboard-01-article clearfix\">\n<div class=\"block-title\">Advertisement<\/div>\n<div id=\"ad-entity-sx821pD68v0\" class=\"ad-entity-container not-initialized\" data-ad-entity=\"lb01_mobile\" data-ad-entity-type=\"Adobe_Ad_Entity\" data-ad-entity-view=\"mc_adobe_advertisement_provider_default\" 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class=\"layout__region layout__region--content\">\n<section data-title=\"Content Details\" class=\"block block-mc-content-detail block-content-details clearfix article-detail-title-block\">\n<div data-title=\"Content Details\" class=\"content-detail block block-mc-content-detail block-content-details clearfix article-detail-title-block\">\n<p class=\"content-detail__category\">\n<a class=\"link\" href=\"\/world\"><br \/>\n      World<br \/>\n  <\/a>\n    <\/p>\n<h1 class=\"h1 h1--page-title\">\n      Oil slips 5% on hopes of US-Iran deal<br \/>\n  <\/h1>\n<div class=\"content-detail__description\">\n<p>Oil prices fell to a two-week low on optimism that the US and Iran were moving closer towards a peace deal, even though they remained at odds over key issues.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n<\/p><\/div>\n<div class=\"layout layout--twocol-section layout--twocol-section--75-25\">\n<div class=\"layout__region layout__region--first\">\n<section data-title=\"Hero Emphasis\" class=\"block detail-hero-media block-mc-hero-emphasis block-hero-emphasis clearfix\">\n<figure data-title=\"Hero Emphasis\" class=\"figure block detail-hero-media block-mc-hero-emphasis block-hero-emphasis clearfix\" data-img-id=\"\">\n<p>      <img decoding=\"async\" class=\"image\" src=\"https:\/\/dam.mediacorp.sg\/image\/upload\/s--tNUgcL4N--\/c_fill,g_auto,h_468,w_830\/fl_relative,g_south_east,l_mediacorp:cna:watermark:2024-04:reuters_1,w_0.1\/f_auto,q_auto\/v1\/one-cms\/core\/2026-05-24T222629Z_1_LYNXMPEM4N0XX_RTROPTP_3_IRAN-CRISIS-EMIRATES-PORTS.JPG?itok=04Z220F_\" alt=\"Oil slips 5% on hopes of US-Iran deal\" title=\"Oil slips 5% on hopes of US-Iran deal\"><figcaption class=\"figure__caption\">\n<p>Oil containers at the Port of Fujairah, as the US-Israel conflict with Iran limits marine traffic in the Strait of Hormuz, in Fujairah, United Arab Emirates, May 6, 2026. (Photo: REUTERS\/Amr Alfiky)<\/p>\n<\/figcaption><\/figure>\n<\/section><\/div>\n<div class=\"layout__region layout__region--second\">\n<section data-title=\"Content share and bookmark\" class=\"block block-mc-content-share-bookmark block-content-share-bookmark clearfix\">\n<div data-title=\"Content share and bookmark\" class=\"article-publish article-publish-- block block-mc-content-share-bookmark block-content-share-bookmark clearfix\">\n        25 May 2026 07:02AM<br \/>\n                        <span>(Updated: 25 May 2026 11:19AM)<\/span>\n            <\/div>\n<div class=\"js-popup-content\">\n<div class=\"bookmark-share\">\n<div class=\"bookmark-share-icon\">\n<a class=\"link bookmark-link\" data-uuid=\"eaa2d781-7602-457e-be50-855474afb19b\" data-nid=\"6139481\" href=\";\"><\/p>\n<p>  <span class=\"link__text visually-hidden\"><br \/>\n    Bookmark<br \/>\n  <\/span><br \/>\n  <\/a><br \/>\n<a class=\"link bookmark-link-anonymous hidden\" 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class=\"content-wrapper\">\n<div class=\"text\">\n<div class=\"text-long\">\n<p>SINGAPORE: Oil prices hit two-week lows on Monday (May 25) on optimism that the <a href=\"https:\/\/www.channelnewsasia.com\/world\/iran-war-us-trump-negotiators-deal-strait-hormuz-6139081\">United States and Iran were moving closer towards a peace deal<\/a>, even though they remained at odds over key issues, including blockades on the Strait of Hormuz that continued to restrict oil supply from the Middle East.<\/p>\n<p>The price of North Sea Brent crude and West Texas Intermediate slipped close to 5 per cent to US$99.41 and US$92.49 a barrel, respectively.<\/p>\n<p>Tokyo soared more than 3 per cent in early trade on Monday, while Hong Kong and Seoul were closed for public holidays.<\/p>\n<p>Shanghai inched upwards, with Taipei, Manila, Bangkok, Jakarta, Singapore, Sydney and Wellington also climbing.<\/p>\n<div class=\"in-article-games trimmed-content\">\n<div class=\"game-list-header\">CNA Games<\/div>\n<div class=\"game-list\">\n              <a class=\"game-tile\" href=\"https:\/\/www.channelnewsasia.com\/games\/guess-word\"><\/p>\n<div class=\"game-img\">\n            <img decoding=\"async\" title=\"Guess Word\" src=\"https:\/\/dam.mediacorp.sg\/image\/upload\/s--9rksCQgs--\/c_fill,g_auto,h_100,w_100\/f_auto,q_auto\/v1\/mediacorp\/cna\/image\/2025\/12\/03\/game_icon_-_wordrow_-_light_mode.png?itok=y_y6Lkrj\" alt=\"Guess Word\">\n          <\/div>\n<div class=\"game-desc\">\n<div class=\"game-title\">Guess Word<\/div>\n<div class=\"game-abt\">Crack the word, one row at a time<\/div>\n<\/p><\/div>\n<p>        <\/a><br \/>\n              <a class=\"game-tile\" href=\"https:\/\/www.channelnewsasia.com\/games\/buzzword\"><\/p>\n<div class=\"game-img\">\n            <img decoding=\"async\" title=\"Buzzword\" 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teaser<\/div>\n<\/p><\/div>\n<p>        <\/a><br \/>\n              <a class=\"game-tile\" href=\"https:\/\/www.channelnewsasia.com\/games\/mini-crossword\"><\/p>\n<div class=\"game-img\">\n            <img decoding=\"async\" title=\"Mini Crossword\" src=\"https:\/\/dam.mediacorp.sg\/image\/upload\/s--vQydxQJa--\/c_fill,g_auto,h_100,w_100\/f_auto,q_auto\/v1\/mediacorp\/cna\/image\/2025\/12\/03\/game_icon_-_mini_crossword_-_light_mode.png?itok=xnGbWUBS\" alt=\"Mini Crossword\">\n          <\/div>\n<div class=\"game-desc\">\n<div class=\"game-title\">Mini Crossword<\/div>\n<div class=\"game-abt\">Small grid, big challenge<\/div>\n<\/p><\/div>\n<p>        <\/a><br \/>\n              <a class=\"game-tile\" href=\"https:\/\/www.channelnewsasia.com\/games\/word-search\"><\/p>\n<div class=\"game-img\">\n            <img decoding=\"async\" title=\"Word Search\" src=\"https:\/\/dam.mediacorp.sg\/image\/upload\/s--lVhq9IJO--\/c_fill,g_auto,h_100,w_100\/f_auto,q_auto\/v1\/mediacorp\/cna\/image\/2025\/12\/03\/game_icon_-_word_search_-_light_mode.png?itok=J7DBf8e2\" alt=\"Word Search\">\n          <\/div>\n<div class=\"game-desc\">\n<div class=\"game-title\">Word Search<\/div>\n<div class=\"game-abt\">Spot as many words as you can<\/div>\n<\/p><\/div>\n<p>        <\/a>\n          <\/div>\n<div class=\"in-article-games__full-story-wrapper\">\n<div class=\"in-article-games__full-story-button-wrapper\">\n<a class=\"in-article-games__full-story-button\" href=\";\"><br \/>\n      Show More<br \/>\n  <\/a>\n      <\/div>\n<\/p><\/div>\n<div class=\"in-article-games__full-story-button-wrapper\">\n<a class=\"in-article-games__full-story-less-button\" href=\";\"><br \/>\n      Show Less<br \/>\n  <\/a>\n    <\/div>\n<\/p><\/div>\n<p>Kuala Lumpur was down 0.1 per cent.<\/p>\n<p>But sticking points in their negotiations have tempered hopes of a swift resolution to restore the transit of oil and gas through the Strait of Hormuz.<\/p>\n<p>US President Donald Trump said on Sunday he had informed US negotiators &#8220;not to rush into a deal&#8221;.<\/p>\n<p>One of the main sticking points has been whether Tehran is willing to hand over its stockpile of highly enriched uranium.<\/p>\n<p>The release of Iran&#8217;s frozen assets held under longstanding US sanctions and whether Lebanon, repeatedly targeted by Israeli strikes, will be included in any peace deal are also key issues.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"content-wrapper\">\n<div class=\"referenced-card\">\n<h4 class=\"h4 h4--related-block\">\n<div>Related:<\/div>\n<\/h4>\n<div>\n<div>\n<div class=\"media-object\">\n<div class=\"media-object__figure\">\n  <a class=\"link\" href=\"\/world\/iran-war-us-tehran-deal-what-we-know-6139706\"><br \/>\n            <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/dam.mediacorp.sg\/image\/upload\/s--PKPMfMCP--\/c_crop,h_561,w_998,x_1,y_6\/c_fill,g_auto,h_98,w_175\/fl_relative,g_south_east,l_one-cms:core:watermark:ap_data-1,w_0.1\/f_auto,q_auto\/v1\/one-cms\/core\/Iran_War_65556.jpg?itok=dj3l1J8R\"><br \/>\n                <\/a>\n    <\/div>\n<div class=\"media-object__content\">\n<div class=\"media-object__body\">\n<div class=\"list-object\">\n<h6 class=\"h6 list-object__heading\">\n<a class=\"h6__link list-object__heading-link\" href=\"\/world\/iran-war-us-tehran-deal-what-we-know-6139706\"><br \/>\n      <span>Possible Iran-US deal: What we know<\/span><br \/>\n  <\/a><br \/>\n  <\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"media-object\">\n<div class=\"media-object__figure\">\n  <a class=\"link\" href=\"\/commentary\/us-iran-war-peace-deal-strait-hormuz-nuclear-6139061\"><br \/>\n            <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/dam.mediacorp.sg\/image\/upload\/s--hmn8dtG6--\/c_fill,g_auto,h_98,w_175\/fl_relative,g_south_east,l_mediacorp:cna:watermark:2024-04:reuters_1,w_0.1\/f_auto,q_auto\/v1\/one-cms\/core\/2026-05-23T205032Z_1_LYNXMPEM4M0QV_RTROPTP_3_USA-TRUMP.JPG?itok=O1HpU8KI\"><br \/>\n                <\/a>\n    <\/div>\n<div class=\"media-object__content\">\n<div class=\"media-object__body\">\n<div class=\"list-object\">\n<h6 class=\"h6 list-object__heading\">\n<a class=\"h6__link list-object__heading-link\" href=\"\/commentary\/us-iran-war-peace-deal-strait-hormuz-nuclear-6139061\"><br \/>\n      <span>Commentary: US and Iran may now fear escalation more than compromise<\/span><br \/>\n  <\/a><br \/>\n  <\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n<div class=\"content-wrapper\">\n<div class=\"text\">\n<div class=\"text-long\">\n<p>Nick Twidale, chief market analyst at ATFX Global, said that he expects the market to embrace more risk on Monday but not to surge higher until there is confirmation that the Strait of Hormuz will reopen.<\/p>\n<p>&#8220;We will need to see an agreement out in place in the coming sessions as we know there are still some major sticking points,&#8221; he said.<\/p>\n<p>The most important issues for financial markets are when the Strait of Hormuz will reopen, Commonwealth Bank of Australia strategists said in a note.<\/p>\n<p>&#8220;Under what conditions the Strait will reopen and how long it will take to repair production facilities and infrastructure to ramp up production of energy and other goods to pre\u2011war levels,&#8221; they said.<\/p>\n<p>MST Marquee analyst Saul Kavonic said: &#8220;Notwithstanding all the caveats and risks that remain to the peace deal and Strait of Hormuz, there is now some light at the end of the tunnel, which will bring some near-term oil price relief.&#8221;<\/p>\n<p>However, analysts expect that it will take months for oil flows through the strait to return to normal and for damaged oil and gas facilities to be repaired.<\/p>\n<p>Investors will also be keeping an eye on how the US Federal Reserve and its new chief chair Kevin Warsh react to Personal Consumption Expenditures (PCE) data this week, as well as European inflation metrics.<\/p>\n<p>&#8220;The inflation story remains central to the entire setup,&#8221; said SPI Asset Management analyst Stephen Innes.<\/p>\n<p>&#8220;Investors will receive another critical read on Thursday with the release of the Personal Consumption Expenditures index, the Federal Reserve&#8217;s preferred inflation gauge.<\/p>\n<p>&#8220;After several hotter-than-expected consumer and producer inflation reports earlier this month, markets are increasingly concerned that elevated oil prices and supply disruptions tied to the Middle East conflict are beginning to seep into the broader inflation pipeline.&#8221;<\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/section>\n<section data-title=\"Source\" class=\"block 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