Yahoo Finance | EN590 Commodities

Crude Oil · 2026-05-07T10:10:29.000Z

Brent crude oil has fallen below $100 a barrel on Thursday morning as reports from the Middle East indicate that the US and Iran are nearing a deal for the gradual reopening of the Strait of Hormuz. At the time of writing, the front month contract on Brent crude is trading at around $99.7 per barrel while the US benchmark WTI is at $93.6. The crucial waterway’s effective closure during the conflict has severely disrupted global oil flows, fuelling inflation and driving energy prices higher worldwide. On Wednesday, oil prices had already fallen nearly 8% while global equities rallied after US President Donald Trump signalled that a breakthrough with Iran was close, raising hopes the blockade could soon ease. Still, optimism remained cautious as tensions persisted, underscored by a US milita

About EN590 Commodities Group

25+ years in mineral exploration and extraction. 15+ years of global commodity trading. Based in New York, USA — serving 75+ countries. Products: EN590 Diesel · Crude Oil · Jet Fuel · Mazut · Bitumen · Sulphur 99.5% · Urea 46% · NPK Fertilizers.

📲 Join our Telegram channel: t.me/EN590

📰 Visit our Blog

#energy #commodities #EN590 #diesel #crudeoil #sulphur #urea #fertilizer #LNG #trading #NewYork