Oil Prices Slip as Markets Monitor US-Iran Talks

By News Desk on May 20, 2026

New York: Oil prices edged lower today as investors monitored negotiations between the United States and Iran, despite ongoing concerns over possible supply disruptions in the Middle East.

Brent crude futures fell 0.4 percent to $110.83 per barrel, while US West Texas Intermediate (WTI) crude declined 0.3 percent to $103.88 per barrel.

The decline followed remarks from US officials indicating progress in discussions with Tehran. However, markets remain sensitive to geopolitical developments and potential disruptions to oil supplies through key maritime routes in the region.

Meanwhile, US data showed crude oil inventories declining for a fifth consecutive week, indicating continued demand strength in the market.

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