Oil Prices Drop 17% in May Amid US-Iran Tensions

Oil prices experienced a significant decline, closing down 17% in May, largely influenced by the evolving geopolitical outlook between the U.S. and Iran. This drop reflects a shift in risk appetite among investors, as concerns over potential supply disruptions from the region diminished amid diplomatic developments. Crude oil markets are particularly exposed due to their sensitivity to geopolitical tensions and supply forecasts. Traders will closely watch upcoming negotiations or announcements regarding U.S.-Iran relations, as any breakthroughs could further impact oil supply dynamics and pricing.

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