02-Jun-2026 13:39

WTI crude oil futures slipped under $91 per barrel on Tuesday, trimming gains from the previous session as investors continued to assess uncertainty surrounding US-Iran peace negotiations. The global crude oil market witnessed one of its most volatile months in recent years during May 2026. Despite severe supply disruptions across the Middle East, crude prices ended the month sharply lower as investors increasingly focused on concerns surrounding global economic growth and fuel demand. WTI crude oil prices fell nearly 17% during the month, while Brent crude declined more than 19%, marking its worst monthly performance since the pandemic-driven collapse of 2020. The decline was particularly notable because it occurred against a backdrop of significant geopolitical tensions, disrupted oil production, and the effective closure of one of the world's most critical energy transit routes'the Strait of Hormuz.

Powered by Commodity Insights