Brent for August fell 4.82%, to US$ 95.38, with expectations of progress in negotiations over Hormuz
Brent oil this Monday (May 25, 2026), falling compared to expectations. At around 6:10 am (Brasília time), the futures contract for August was trading at US$95.38, down 4.82%. At opening, it was priced at US$99.06. On Friday (May 22, 2026), it had closed at US$ 100.21.
The contract reached US$94.22 at the day’s low and US$99.59 at the high. In one week, Brent accumulated a drop of 11.3%. In one month, the decline is 9.49%. Even so, the commodity registered an increase of 34.55% in 3 months, 52.58% in 6 months and 48.47% in one year.
The drop comes after the president of the United States, , stated that an agreement with Iran is close to being concluded. According to the Republican, the proposal includes the reopening of the Strait of Hormuz, through which a significant part of the oil transported through the Persian Gulf passes.
Trump said on Saturday (May 23, 2026) that he had spoken with leaders of Gulf countries, as well as Pakistan, Turkey, Egypt, Jordan and Bahrain, about a Memorandum of Understanding for Peace. He also said that he had spoken separately with the Prime Minister of Israel, Benjamin Netanyahu.
On Sunday (May 24, 2026), US Secretary of State Marco Rubio declared that there had been “significant progress” in the talks. According to North American authorities cited by The New York TimesI as part of the proposal presented by Washington. Details on how this would be done would remain for a later round of negotiations.
Despite progress in negotiations, Trump said that Iran will continue until a final agreement is signed. “The blockade will remain in full force until an agreement is reached, certified and signed”stated the US president in a publication in Truth Social.
The Strait of Hormuz is one of the main oil flow routes in the world. The possibility of reopening reduces the perception of risk regarding the global supply of the commodity and puts downward pressure on prices.
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