Live Update 
From the Liveblog of
Wednesday, May 27, 2026
From the Liveblog of
Wednesday, May 27, 2026
Oil prices fall by around 5% on Wednesday amid Iran-US negotiations to end war
Add ToI as a Preferred Source on GoogleThe price for a barrel of Brent crude oil has fallen 5.3% to $94.28 today, as Iran claimed through state media to have received an initial draft of a deal to end the war — although the White House later denied Iranian media’s account of the purported terms of the framework.
A barrel of benchmark US crude has also fallen 5.5% to settle at $88.68 on hopes that the United States and Iran can reach an agreement to reopen the Strait of Hormuz and allow oil tankers to exit the Persian Gulf for deliveries again.
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