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Commodity News Details
WTI Crude melts 10% to test two-week low as US-Iran talks pull prices lower
06-May-2026 17:36
Crude oil prices fell decisively today as markets eyed cooling geopolitical scenario after the US President Donald Trump announced that the mission to guide ships through the Strait of Hormuz will pause and noted great progress in talks with Iran. WTI Crude tanked under $100 per barrel and fell at an accelerated pace in European trades on media reports stating that Iran's top diplomat has traveled to Beijing for the first face-to-face meeting with his Chinese counterpart since the war began. WTI Crude has lost around 10% on the day to trade at $92 per barrel ' testing two-week low. MCX Crude oil futures also melted and currently trade at Rs 8775 per barrel, down 9.52% on the day with a modest drop in open interest.

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