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Energy Preview: WTI crude oil futures set for weekly decline of around 3.5%
22-May-2026 08:44

WTI crude oil futures continue to linger below $100 per barrel on Friday and are set for a weekly decline of around 3.5%, amid growing optimism that the United States (US) and Iran could eventually reach an agreement. US Secretary of State Marco Rubio reportedly noted there were some encouraging signs surrounding a possible deal with Iran. However, falling oil inventories data this week from API and EIA is keeping the commodity supported. Currently, the counter is quoting at $97.47 per barrel, up over 1% on the day, but around a two-week low. Meanwhile, Brent oil futures are staying above $100 mark at $104.08 per barrel, up 1.5% on the day.

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