Brent Crude Slides 4% as President Trump Signals Patient Iran Strategy

Oil prices tumbled more than 4% after President Donald Trump signaled orderly progress in Iran nuclear talks but told his team not to rush a deal.

West Texas Intermediate crude dropped 4.61% to $92.1, while Brent slid 4.44% to $98.9. The selling rippled across the broader energy complex. 

Gasoline futures fell 4% to $3.3, and heating oil dropped 3.2% to $3.7. Natural gas slipped 0.61% to $2.88.

Trump’s Iran Post Reset the Oil Risk Premium

Oil had climbed sharply through the conflict, with Brent breaching $110 earlier in May. Notably, major de-escalation signals have knocked prices down.

Trump’s post leaned into patience over urgency. He thanked Middle East allies for their cooperation and floated the possibility of Iran eventually joining the Abraham Accords.

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Asian Stocks Rally and Crypto Edges Up as Risk Premium Fades

While energy markets moved south, risk assets moved in the opposite direction. Japan’s Nikkei 225 breached 65,000 on Monday for the first time. South Korea’s KOSPI rose 0.41% in early sessions.

Crypto markets posted modest gains as well. BeInCrypto Markets data showed that the broader market added 0.2% over 24 hours. Bitcoin (BTC) held near $77,000 after recovering from a low of $74,277.

With no deal yet and the blockade still in place, traders heading into the coming session will look for formal confirmation. A reopened Strait could ease Brent further. Any breakdown in talks would restore the geopolitical risk premium that has driven oil prices for the past three months.

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