Oil Prices Swing After Reports of U.S.-Iran Deal and Strikes
Brent crude fell on reports of a possible U.S.-Iran framework deal, then rose toward $100 after new U.S. strikes on Iran. OilPrice.com reported the price movements on May 26, 2026.
finance.yahoo.comU.S. actions toward Iran. S. strikes on Iranian targets. The same report noted that a strong El Niño event could increase cooling demand and raise natural gas consumption in Asia. 4 per MMBtu.
LNG exporters to Europe had disappeared under current price levels. The report added that a severe El Niño typically reduces rainfall in India and brings extreme heat to northern China and Japan. -Iran talks and the status of tanker traffic through the Strait of Hormuz.
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Increased cooling demand could raise natural gas consumption in China and Japan.
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