{"id":127598,"date":"2026-05-25T10:49:27","date_gmt":"2026-05-25T06:49:27","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=127598"},"modified":"2026-05-25T10:49:32","modified_gmt":"2026-05-25T06:49:32","slug":"brent-crashes-below-100-as-rubio-touts-pretty-solid-hormuz-framework-but-nuclear-standoff-and-blockade-cloud-the-picture","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/brent-crashes-below-100-as-rubio-touts-pretty-solid-hormuz-framework-but-nuclear-standoff-and-blockade-cloud-the-picture\/05\/25\/market-updates\/","title":{"rendered":"Brent Crashes Below $100 as Rubio Touts &#8220;Pretty Solid&#8221; Hormuz Framework: But Nuclear Standoff and Blockade Cloud the Picture"},"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>Brent breaks $100:<\/strong> Futures slid 5.6% to $97.74 per barrel \u2014 the weakest level in nearly three weeks.<\/li>\n\n\n\n<li><strong>WTI plunges:<\/strong> U.S. crude fell 6.1% to $90.71 per barrel.<\/li>\n\n\n\n<li><strong>Rubio&#8217;s &#8220;pretty solid&#8221; framework:<\/strong> The Secretary of State said the U.S. and Iran have a solid framework deal on reopening Hormuz.<\/li>\n\n\n\n<li><strong>Military threat remains:<\/strong> Rubio hinted at military action if Tehran does not accept a deal.<\/li>\n\n\n\n<li><strong>Trump&#8217;s weekend claim:<\/strong> The president said the U.S. was close to finalizing a framework deal with Iran.<\/li>\n\n\n\n<li><strong>Iran contradicts Trump:<\/strong> Iranian state media pushed back against claims that a deal was nearly final.<\/li>\n\n\n\n<li><strong>&#8220;No rush&#8221;:<\/strong> Trump later walked back urgency, saying there was no hurry to strike a deal.<\/li>\n\n\n\n<li><strong>Blockade stays:<\/strong> The U.S. naval blockade against Iran will remain until an agreement is reached.<\/li>\n\n\n\n<li><strong>Nuclear standoff persists:<\/strong> Tehran has largely rejected U.S. demands to hand over enriched uranium holdings.<\/li>\n\n\n\n<li><strong>Hormuz trickle:<\/strong> A few vessels passed through the strait Monday, but traffic remains far below pre-war levels.<\/li>\n\n\n\n<li><strong>Toll plan looms:<\/strong> Iran is preparing to charge for commercial shipping through Hormuz \u2014 a move that could spark new clashes.<\/li>\n\n\n\n<li><strong>Recovery will take months:<\/strong> The restoration of full Hormuz oil flows is expected to take several months even after any deal.<\/li>\n\n\n\n<li><strong>20% of global oil at stake:<\/strong> Hormuz&#8217;s continued closure remains the key price support factor for crude.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>Oil prices fell sharply during Asian trading on Monday, with Brent breaking below $100 a barrel after U.S. officials flagged some progress toward reopening the Strait of Hormuz.<\/p>\n\n\n\n<p>Brent oil futures for July slid 5.6% to $97.74 a barrel by 01:09 ET (05:09 GMT), while West Texas Intermediate crude futures slid 6.1% to $90.71 a barrel.<\/p>\n\n\n\n<p>Both contracts slid to their weakest levels in nearly three weeks.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Oil Extends Losses After Rubio Flags Progress on Hormuz<\/h2>\n\n\n\n<p>Oil prices fell further on Monday after U.S. Secretary of State Marco Rubio flagged some progress toward a deal to reopen the Strait of Hormuz.<\/p>\n\n\n\n<p>Rubio said the U.S. and Iran had a &#8220;pretty solid&#8221; framework deal on reopening Hormuz, but hinted at military action if Tehran did not accept a deal.<\/p>\n\n\n\n<p>His comments came after U.S. President Donald Trump over the weekend said the U.S. was close to finalizing a framework deal with Iran.<\/p>\n\n\n\n<p>Reports also showed both sides and Pakistani mediators flagging progress toward a deal. But Iranian state media contradicted Trump&#8217;s claims that a deal was nearly final.<\/p>\n\n\n\n<p>Trump later said there was no rush to strike a deal with Iran, and that a naval blockade against the country would remain until an agreement was reached.<\/p>\n\n\n\n<p>Washington and Tehran remained at odds over several key issues, most notably Iran&#8217;s nuclear activities. Tehran has largely rejected U.S. demands to hand over its enriched uranium holdings.<\/p>\n\n\n\n<p>Trump reiterated his stance on Sunday that Iran cannot be allowed to have a nuclear weapon. Over the weekend, the president also made several social media posts hinting at military action against Iran.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Some Vessels Pass Through Hormuz; Weekly Losses Mount<\/h2>\n\n\n\n<p>Crude prices were nursing deep losses from last week amid growing bets that a U.S.-Iran deal was close.<\/p>\n\n\n\n<p>Reports on Monday showed a few vessels passing through the Strait of Hormuz, although traffic still remained at a fraction of pre-war levels.<\/p>\n\n\n\n<p>The channel&#8217;s closure has been a key support pillar for oil prices, given that prior to the Iran war, roughly 20% of the world&#8217;s oil supplies had flowed through Hormuz.<\/p>\n\n\n\n<p>Iran was seen preparing measures to charge for commercial shipping through Hormuz \u2014 a move that could spur further clashes with the United States.<\/p>\n\n\n\n<p>The restoration of oil flows through Hormuz is also expected to take several months even after any agreement is reached.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Brent breaks $100: Futures slid 5.6% to $97.74 per barrel \u2014 the weakest level in nearly three weeks. WTI plunges: U.S. crude fell 6.1% to $90.71 per barrel. Rubio&#8217;s &#8220;pretty solid&#8221; framework: The Secretary of State said the U.S. and Iran have a solid framework deal on reopening Hormuz. Military threat remains: Rubio &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-127598","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\/127598","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=127598"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127598\/revisions"}],"predecessor-version":[{"id":127599,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127598\/revisions\/127599"}],"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=127598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=127598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=127598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}