# Oil records biggest one-month drop in 6 years

> Brent posted its biggest one-month drop in six years, falling nearly 20% in May, and WTI fell almost 17%. US gasoline averaged $4.39 per gallon, still 47% above the start of the Iran war. The decline was driven mainly by White House messaging about a possible deal with Iran.

- Date: 2026-05-29 · published 2026-05-29T12:00:00.000Z
- Category: geopolitics · region US · magnitude medium
- Page: https://feedsoft.ai/events/12488-oil-records-biggest-one-month-drop-in-6-years
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Crude's sharp fall lowers fuel and transport costs, but pump prices remain high, which keeps logistics costs elevated for feed buyers. Price direction depends on whether a US-Iran agreement is reached.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-07-11 | [Brent crude suffers biggest price drop in two years](https://feedsoft.ai/events/10093-brent-crude-suffers-biggest-price-drop-in-two-years.md) | -8.2% | -6.7% |
| WTI | 2026-05-29 | [Brent oil price in May posts biggest monthly loss since 2020](https://feedsoft.ai/events/12487-brent-oil-price-in-may-posts-biggest-monthly-loss-since-2020.md) | +4.6% | -23.5% |
| WTI | 2020-03-06 | [Oil takes biggest daily dive in over a decade as Russia, OPEC split](https://feedsoft.ai/events/4421-oil-takes-biggest-daily-dive-in-over-a-decade-as-russia-opec-split.md) | -31.3% | -45.0% |
| WTI | 2022-03-11 | [Oil settles up but posts biggest weekly decline since Nov \| Reuters](https://feedsoft.ai/events/5783-oil-settles-up-but-posts-biggest-weekly-decline-since-nov-reuters.md) | -2.8% | -9.4% |
| WTI | 2026-05-29 | [Oil Sees Biggest Weekly Loss Since April on Iran Deal Talk](https://feedsoft.ai/events/12490-oil-sees-biggest-weekly-loss-since-april-on-iran-deal-talk.md) | +4.6% | -23.5% |
| BRENT | 2018-07-11 | [Brent crude suffers biggest price drop in two years](https://feedsoft.ai/events/10093-brent-crude-suffers-biggest-price-drop-in-two-years.md) | -8.7% | -6.2% |
| BRENT | 2026-05-29 | [Brent oil price in May posts biggest monthly loss since 2020](https://feedsoft.ai/events/12487-brent-oil-price-in-may-posts-biggest-monthly-loss-since-2020.md) | +2.5% | -21.2% |
| BRENT | 2020-03-06 | [Oil takes biggest daily dive in over a decade as Russia, OPEC split](https://feedsoft.ai/events/4421-oil-takes-biggest-daily-dive-in-over-a-decade-as-russia-opec-split.md) | -36.6% | -51.4% |

## Sources

- nbcnews.com: https://www.nbcnews.com/business/energy/oil-monthly-drop-gas-prices-fall-rcna347518

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