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U.S. oil falls below $89 on report Iran agreement would restore Hormuz traffic in one month
U.S. crude oil prices fell about 6% Wednesday on a report Iran would restore traffic through the Strait of Hormuz as part of a framework deal with the U.S. West Texas Intermediate futures tumbled 5.7% to $88.53 per barrel by 8:33 a.m. ET. International benchmark Brent crude oil slid about 4.7% to $94.91. Tehran has committed to restore commercial traffic through Hormuz to pre-war levels within one month of an agreement with the U.S., according to a Reuters report citing Iranian state television. However, Iran will manage ship traffic through Hormuz in cooperation with Oman, state television said. U.S. military forces ... (full story)
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From @financialjuice|May 27, 2026|412 commentsIran's state TV: We have a draft of the initial unofficial framework for the MOU with the US IRAN'S STATE TV SAYS ACCORDING TO DRAFT MOU US MILITARY FORCES WILL WITHDRAW FROM VICINITY OF IRAN AND LIFT NAVAL BLOCKADE The management and route of ship traffic through Strait of Hormuz will be handled by Iran in cooperation with Oman - Iran's State TV. If a final deal is reached within 60 days, this agreement will be approved in the form of a binding UN Security Council resolution - Iran's State TV. Iran's State TV: The Islamabad memorandum framework is not yet finalized; no step will be taken by Iran without "tangible verification."
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- May 27, 2026 7:52am Posted byFundamental Analysis96,522
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