Crude oil prices of U.S. dropped sharply Wednesday after President Donald Trump said negotiations with Iran were entering the “final stages,” according to reports.
U.S. crude oil falls below $100 per barrel after Trump says Iran talks in final stages https://t.co/iJ14ePCOL2
— CNBC International (@CNBCi) May 20, 2026
West Texas Intermediate crude fell nearly 5% to below $100 per barrel, while Brent crude also declined around 5%. The report said markets reacted positively to signs of possible diplomatic progress.
Earlier this week, Trump said he delayed renewed military strikes against Iran to allow more time for negotiations requested by Gulf Arab allies.
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