Oil drops 20% from 2026 peak on optimism over U.S.-Iran ceasefire talks
- Posted on May 29, 2026
- By CNBC
- 0 Views
- 1 min read
Oil drops 20% from 2026 peak on optimism over U.S.-Iran ceasefire talks
Global oil prices have retreated sharply amid hopes that a lasting Middle East ceasefire can unlock the Strait of Hormuz.