# Oil settles 5% lower as investors await updates on US-Iran peace deal talks | Reuters

> Oil prices settled about 5% lower, reaching their lowest level in over a month, after reports of a draft US-Iran deal to reopen the Strait of Hormuz. Investors were awaiting updates on the peace talks. Demand signals also weakened, with India's two largest airlines sharply cutting planned domestic flights.

- Date: 2026-05-27 · published 2026-05-27T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/12486-oil-settles-5-lower-as-investors-await-updates-on-us-iran-peace-deal-talks
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A draft agreement to reopen Hormuz eases supply concerns and lowers crude prices, which reduces energy input costs for feed manufacturers. Weaker jet fuel demand in India adds further downside pressure.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-05-27 | 5 | -15.3% | -2.8 | May 27 settlement about 5% lower on reports of a draft US-Iran deal to reopen Hormuz, plus weaker Indian airline demand, falls directly within the window's end and drove the drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-05-24 | [Oil tumbles nearly 7% as US and Iran seen moving closer to deal \| Reuters](https://feedsoft.ai/events/12722-oil-tumbles-nearly-7-as-us-and-iran-seen-moving-closer-to-deal-reuters.md) | -4.4% | -25.2% |
| WTI | 2025-11-21 | [Oil prices settle down at lowest in a month as US seeks Russia-Ukraine peace deal \| MarketScreener](https://feedsoft.ai/events/22119-oil-prices-settle-down-at-lowest-in-a-month-as-us-seeks-russia-ukraine-peace.md) | -2.0% | -5.0% |
| WTI | 2026-10-29 | [US oil prices fall as investors gauge risks to Mideast supply By Reuters](https://feedsoft.ai/events/252-us-oil-prices-fall-as-investors-gauge-risks-to-mideast-supply-by-reuters.md) | -2.3% | — |
| WTI | 2026-02-01 | [Oil settles down over 4% on US-Iran de-escalation, easing supply worries \| Reuters](https://feedsoft.ai/events/8794-oil-settles-down-over-4-on-us-iran-de-escalation-easing-supply-worries-reuters.md) | -1.6% | +9.9% |
| WTI | 2026-04-17 | [Oil settles down 9% after Iran declares Strait of Hormuz open \| Reuters](https://feedsoft.ai/events/8807-oil-settles-down-9-after-iran-declares-strait-of-hormuz-open-reuters.md) | +2.3% | +7.9% |
| BRENT | 2026-05-24 | [Oil tumbles nearly 7% as US and Iran seen moving closer to deal \| Reuters](https://feedsoft.ai/events/12722-oil-tumbles-nearly-7-as-us-and-iran-seen-moving-closer-to-deal-reuters.md) | -8.2% | -26.6% |
| BRENT | 2025-11-21 | [Oil prices settle down at lowest in a month as US seeks Russia-Ukraine peace deal \| MarketScreener](https://feedsoft.ai/events/22119-oil-prices-settle-down-at-lowest-in-a-month-as-us-seeks-russia-ukraine-peace.md) | +0.2% | -5.1% |
| BRENT | 2026-10-29 | [US oil prices fall as investors gauge risks to Mideast supply By Reuters](https://feedsoft.ai/events/252-us-oil-prices-fall-as-investors-gauge-risks-to-mideast-supply-by-reuters.md) | -5.4% | — |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-pulls-back-traders-look-progress-us-iran-talks-2026-05-27/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.