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<\/a><\/p>\nPublished On 25 May 202625 May 2026<\/p>\n
Oil prices have fallen sharply amid tentative hopes for a deal to end the US-Israel war on Iran.<\/p>\n
Brent crude, the primary benchmark for global oil prices, fell more than 5 percent on Sunday as US President Donald Trump gave mixed signals on the prospects for a permanent end to the conflict.<\/p>\n
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Brent futures for July stood at $97.94 a barrel as of 04:00 GMT, down about 9 percent from a month ago but still up by more than a third compared with before the start of the war.<\/p>\n
Japan\u2019s benchmark stock index, the Nikkei 225, surged more than 3 percent in morning trading, hitting an all-time high after closing at a record peak on Friday.<\/p>\n
Trump said in a social media post on Sunday that negotiations with Tehran were proceeding in an \u201corderly and constructive manner\u201d, but he had instructed officials \u201cnot to rush into a deal\u201d.<\/p>\n
\u201cBoth sides must take their time and get it right. There can be no mistakes!\u201d Trump wrote on Truth Social.<\/p>\n
Trump\u2019s remarks came after he raised hopes for a breakthrough on Saturday by announcing that a deal had been \u201clargely negotiated,\u201d with the terms including the reopening of the Strait of Hormuz.<\/p>\n
\u201cFundamentally, there is no change to the underlying picture, where 10-11 million barrels per day of crude oil continue to be shut-in for every day the Strait of Hormuz remains shut,\u201d June Goh, a senior oil market analyst at Sparta in Singapore, told Al Jazeera.<\/p>\n
\u201cHowever,\u00a0markets are expecting a gush of 100 million barrels of crude oil from the stranded ships to flow out once the deal is in place.\u201d<\/p>\n
Goh said markets are likely to remain on edge for some time after any deal is finalised.<\/p>\n
\u201cSparta estimates still about three to six months required to get everything back to status quo, including time to bring production and refineries back online,\u201d Goh said.<\/p>\n
Iran has effectively blockaded the strait since the start of the war in late February, disrupting about one-fifth of the global oil trade.<\/p>\n
The US has imposed its own blockade of Iranian ports since mid-April, further disrupting commercial shipping in the waterway.<\/p>\n
In his Truth Social post on Sunday, Trump said the US blockade would remain \u201cin full force and effect until an agreement is reached, certified, and signed\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"Japan\u2019s stock market surges to record high on hopes of an end to US-Israel war on Iran. Published…\n","protected":false},"author":2,"featured_media":691931,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,46,4717,14380,32557,206083],"class_list":["post-691930","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-economy","tag-energy","tag-financial-markets","tag-oil-and-gas","tag-us-israel-war-on-iran"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/691930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=691930"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/691930\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/691931"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=691930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=691930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=691930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}