The price of oil is dropping sharply in the markets as the United States says it is nearing an agreement with Iran. However, some points remain uncertain.
Oil prices have plunged by over 5% in early trading on the markets this Monday, May 25th, amid hopes of an agreement between the United States and Iran to end the war in the Middle East, even though the recent statements by Donald Trump seem to downplay its imminence.
By 6:00 AM, the price of a forward contract for a barrel of Brent, for delivery in July, was down by 5.62% and fell below the $100 mark, to around $98. Its US equivalent, WTI barrel, also dropped by 5.21% to $91.57, the lowest since April. However, this may not immediately translate into a price drop at the pump.
The United States and Iran appear to be on the path to an agreement to permanently end the war in the Middle East and restore maritime traffic in the Strait of Hormuz.
“We have what I believe to be a fairly solid thing on the table regarding their ability to open the strait of Hormuz, but also to enter negotiations on the Iranian nuclear issue,” said US Secretary of State Marco Rubio from New Delhi on Monday.
“We thought we would have news last night, maybe today (Monday), I wouldn’t be too confident about it,” he added.
Trump tempers
But the signing does not seem imminent. “I have instructed my representatives not to rush to conclude an agreement, as time is on our side,” wrote Donald Trump on his Truth Social platform, while also warning that the blockade imposed by his country on Iranian ports would remain in effect “until an agreement is concluded, certified, and signed.”
Meanwhile, the Iranian news agency Tasnim reported that the discussions could still fail if some of their demands, such as the release of frozen assets, are not met. The spokesman for the Iranian Ministry of Foreign Affairs, Esma’il Baghaei, hinted on Saturday that the nuclear issue was not “at this stage” of the “draft agreement” under discussion and would be addressed in separate negotiations.
Triggered on February 28 by an American-Israeli attack on Iran, the conflict has spread to much of the Middle East and has caused thousands of deaths, especially in Iran and Lebanon, where the pro-Iranian Hezbollah movement joined the hostilities in early March by targeting Israeli territory. A ceasefire has been in effect since April 8 between Iran and the United States, but the global economy continues to be shaken by the near blockade of the Strait of Hormuz, crucial for the transit of hydrocarbons, for over three months.
/2026/05/25/6a14b7bd6b57a926438461.jpg "Swimming: Léon Marchand will train at Insep before the French championships, then in Marseille")
