Brief by Shorts91 Newsdesk / 01:33pm on 25 May 2026,Monday International
Global oil prices dropped sharply on Monday after signs of progress in talks between the United States and Iran. Brent crude fell 5.5% to around $97 a barrel after U.S. Secretary of State Marco Rubio said a possible agreement could be reached soon. President Donald Trump said negotiations were “proceeding nicely” but warned there could still be “no deal.” Iran also said progress had been made, though a final agreement was not close yet. Markets hope the deal could reopen the Strait of Hormuz, a key shipping route for global oil supplies. Experts, however, warned that supply chains may take months to recover fully. (PC: Hindustan Times via Getty Images)
