WORLDMay 29 · 10:51 UTCCNBC TOP

Oil drops 20% from 2026 peak on optimism over U.S.-Iran ceasefire talks

Global oil prices have dropped 20% from a 2026 peak amid optimism about U.S.-Iran ceasefire talks, which could lead to a lasting Middle East ceasefire and unlock the Strait of Hormuz.

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U.S.organizationIranplaceStrait of HormuzplaceMiddle Eastplaceoil pricestopic

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