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Oil prices were on track for their biggest monthly fall since 2020 as investors hoped for an end to the US-Israel war on Iran. Brent crude was down 1.3% on Friday at about $92 and 19% lower since the end of April.
Expectations of an end to the Iran conflict and a reopening of Gulf supply are pushing crude lower, which eases energy and transport costs for feed producers.
theguardian.comJasper JollyMay 29, 2026After 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.
