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Oil prices fell about 5% on Wednesday after President Trump said the Iran war would end very quickly. Brent dropped to $105.61 and WTI also fell sharply.
Trump had also said the US might strike Iran again, and Middle East supply disruption continued.
Expected war resolution lowers the crude risk premium, easing energy costs for feed producers. Analysts warn that supply will not return to pre-war levels immediately, so prices could rebound if the deal stalls.
cnbc.comReutersMay 20, 2026After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
