Oil Posts Worst Month Since the Pandemic as a Fragile US-Iran Ceasefire Framework Awaits Trump’s Signature
Brent crude ended May near USD 92 a barrel after its steepest monthly fall since the Covid-19 pandemic, as US and Iranian negotiators reached a 60-day memorandum of understanding to extend their ceasefire – still unsigned, with the Strait of Hormuz only partly open and sporadic strikes continuing, leaving Europe’s inflation relief hanging in the balance.