US crude futures fall over 6% on report of possible Strait of Hormuz reopening
Business
US crude futures fall over 6% on report of possible Strait of Hormuz reopening
by DZRH News26 May 2026
Vessels anchored at the Strait of Hormuz, as seen from Musandam, Oman, May 25, 2026. REUTERS/Stringer REFILE - CORRECTING INFORMATION FROM "VESSELS SAILING THROUGH THE STRAIT OF HORMUZ" TO "VESSELS ANCHORED AT THE STRAIT OF HORMUZ"
May 26 (Reuters) - U.S. crude futures fell more than 6% in early Asian trade on Tuesday after Nikkei reported that the U.S. and Iran are discussing a plan to reopen the Strait of Hormuz about 30 days after the two countries reach a deal to end hostilities.
U.S. West Texas Intermediate at 2205 GMT was down $5.90 or 6.1% to $90.73 per barrel. The contract fell 6.5% in the previous session.
(Reporting by Pooja Menon in Bengaluru; Editing by Cynthia Osterman)
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