Partially reversing three sessions of gains, crude oil prices have plunged on Wednesday as expectations of de-escalation in the Middle East rise following an Israel-Lebanon ceasefire announcement along with rising optimism on a U.S.-Iran deal over the weekend.
WTI Crude Oil for July month delivery was last seen trading down by $3.00 (or 3.12%) at $93.02 per barrel.
In a crucial development yesterday, after the fourth round of negotiations between Israel and Lebanon (mediated by the U.S.) in Washington, the three nations issued a joint statement according to which Israel and Lebanon have agreed to implement a ceasefire.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.