Oil Prices Rise as Iran Tempers U.S. Deal Hopes | EN590 Commodities
EN590 Commodities GroupCrude Oil May 23, 2026
EU Warns Energy Prices Will Stay Elevated Through 2027 Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. Oil prices turned to a gain Friday after Iran poured cold water on growing market hopes for a near-term agreement with the United States, reminding traders yet again that optimism around diplomacy and reality on the ground are not always moving in the same direction. Brent cruderose 0.78%,while U.S. benchmark WTI climbed 0.20% to $96.54. The move reversed part of Thursday’s selloff, which briefly pushed both benchmarks to their lowest levels in nearly two weeks after comments from U.S. officials suggested progress in negotiations. That enthusiasm appears to have had a short shelf life. Iran’s Foreign
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