{"id":127537,"date":"2026-05-22T14:08:08","date_gmt":"2026-05-22T10:08:08","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=127537"},"modified":"2026-05-22T14:08:12","modified_gmt":"2026-05-22T10:08:12","slug":"oil-rebounds-as-iran-peace-deal-rumors-swirl-brent-still-up-50-from-pre-war-levels-despite-weekly-slide-2","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-rebounds-as-iran-peace-deal-rumors-swirl-brent-still-up-50-from-pre-war-levels-despite-weekly-slide-2\/05\/22\/market-updates\/","title":{"rendered":"Oil Rebounds as Iran Peace Deal Rumors Swirl: Brent Still Up 50%+ From Pre-War Levels Despite Weekly Slide"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Friday rebound:<\/strong> Brent crude jumped 1.5% to $104.12 per barrel, while WTI rose 1% to $93.84.<\/li>\n\n\n\n<li><strong>Brutal weekly loss:<\/strong> Both contracts fell 4-7% this week on Iran peace deal optimism.<\/li>\n\n\n\n<li><strong>Draft deal reported:<\/strong> Reports on Thursday said the U.S. and Iran had reached a final draft peace agreement \u2014 though neither side confirmed.<\/li>\n\n\n\n<li><strong>Trump&#8217;s timeline:<\/strong> The president declared the war in its &#8220;final stages&#8221; and postponed a planned military attack.<\/li>\n\n\n\n<li><strong>Iran reviewing U.S. position:<\/strong> Tehran confirmed it was examining Washington&#8217;s latest peace terms.<\/li>\n\n\n\n<li><strong>Strike threat remains:<\/strong> Trump said he&#8217;s ready to order strikes if negotiations don&#8217;t yield progress.<\/li>\n\n\n\n<li><strong>Uranium standoff:<\/strong> Trump reiterated his demand to seize Iran&#8217;s uranium stockpile; Khamenei reportedly banned it from leaving the country.<\/li>\n\n\n\n<li><strong>Hormuz still shuttered:<\/strong> Oil flows through the strait remain scant, keeping global supply pressure intact.<\/li>\n\n\n\n<li><strong>Iran toll plan rebuked:<\/strong> Washington has rejected Iran&#8217;s plans to charge transit fees through Hormuz.<\/li>\n\n\n\n<li><strong>Still up 50-70% from pre-war:<\/strong> Despite the weekly selloff, oil prices remain dramatically elevated from pre-conflict levels.<\/li>\n\n\n\n<li><strong>Asia hardest hit:<\/strong> Asian markets remain the most impacted by the Hormuz outage.<\/li>\n\n\n\n<li><strong>U.S. ramps exports:<\/strong> Washington has boosted crude sales abroad to help fill the global supply gap.<\/li>\n\n\n\n<li><strong>Russia waiver extended:<\/strong> The U.S. extended the sanctions waiver on seaborne Russian oil to ease supply disruptions.<\/li>\n<\/ul>\n\n\n\n<p>Oil prices rose during Asian trading on Friday, rebounding from recent losses as markets awaited more signs of progress toward a U.S.-Iran peace deal.<\/p>\n\n\n\n<p>Upbeat comments from U.S. officials on peace talks with Iran had seen oil prices nursing deep losses for the week.<\/p>\n\n\n\n<p>But crude still remained relatively strong, as the Strait of Hormuz remained closed and as the United States and Iran still remained at odds over key issues \u2014 chiefly Tehran&#8217;s nuclear activities.<\/p>\n\n\n\n<p>Brent oil futures for July jumped 1.5% to $104.12 a barrel by 00:11 ET (04:11 GMT), while West Texas Intermediate crude futures rose 1% to $93.84 per barrel.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Oil Down 4-7% This Week Amid Iran Peace Hopes<\/h2>\n\n\n\n<p>Brent and WTI futures were down between 4% and 7% this week, coming under pressure from upbeat comments on U.S.-Iran peace talks.<\/p>\n\n\n\n<p>Earlier this week, Trump said he had postponed a planned military attack on Iran and flagged progress in negotiations with Tehran. Trump&#8217;s comments were a major weight on oil prices, as markets looked ahead to a potential end to the Iran war.<\/p>\n\n\n\n<p>Trump later said the Iran war was in its &#8220;final stages.&#8221; Separately, Iran also said it was reviewing the U.S.&#8217; latest position on a peace deal.<\/p>\n\n\n\n<p>Reports on Thursday said that the U.S. and Iran had reached a final draft for a peace agreement, although neither side confirmed such a development.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Key Sticking Points Remain<\/h2>\n\n\n\n<p>But oil flows through the Strait of Hormuz remained scant, keeping global supplies largely pressured. Iran was also seen preparing measures to collect tolls for transit through Hormuz \u2014 a notion that U.S. officials have largely rebuked.<\/p>\n\n\n\n<p>The United States and Iran struck opposing stances over Iran&#8217;s uranium stockpile and plans to control the Strait of Hormuz. U.S. President Donald Trump on Thursday reiterated the need to seize Iran&#8217;s uranium stockpile, arguing that the country could not be allowed to have a nuclear weapon.<\/p>\n\n\n\n<p>Trump also said that he was ready to order strikes against Iran if ongoing negotiations did not yield any progress.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Prices Still Dramatically Elevated<\/h2>\n\n\n\n<p>Despite oil&#8217;s losses this week, prices were still trading up between 50% and 70% from pre-war levels, as disruptions in Hormuz knocked out roughly 20% of the world&#8217;s oil supplies.<\/p>\n\n\n\n<p>Asian markets were especially impacted by the Hormuz outage, while the United States has been ramping up its exports to fill the supply gap.<\/p>\n\n\n\n<p>Washington earlier this week extended a sanctions waiver on seaborne Russian oil to help soothe supply disruptions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Friday rebound: Brent crude jumped 1.5% to $104.12 per barrel, while WTI rose 1% to $93.84. Brutal weekly loss: Both contracts fell 4-7% this week on Iran peace deal optimism. Draft deal reported: Reports on Thursday said the U.S. and Iran had reached a final draft peace agreement \u2014 though neither side confirmed. &hellip;<\/p>\n","protected":false},"author":9,"featured_media":58279,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,36],"tags":[],"class_list":["post-127537","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=127537"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127537\/revisions"}],"predecessor-version":[{"id":127538,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127537\/revisions\/127538"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/58279"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=127537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=127537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=127537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}