{"id":332,"date":"2026-05-28T20:11:34","date_gmt":"2026-05-28T20:11:34","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=332"},"modified":"2026-05-28T20:11:34","modified_gmt":"2026-05-28T20:11:34","slug":"oil-prices-settle-in-mixed-direction-on-conflicting-reports-of-us-iran-ceasefire-deal","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=332","title":{"rendered":"Oil prices settle in mixed direction on conflicting reports of US-Iran ceasefire deal"},"content":{"rendered":"<div><div><div><ul><li>Summary<\/li><\/ul><\/div><div><\/div><\/div><div>NEW YORK, May 28 (Reuters) &#8211; Oil prices settled mixed on \u200cThursday after a choppy trading session, as traders mulled conflicting reports of progress on a potential deal to extend a ceasefire between the U.S. and Iran.<\/div><div>Brent crude futures for July , which expire on Friday&#8217;s settlement, closed down 58 cents, or 0.6%, \u200bat $93.71 a barrel. The more actively traded August Brent futures were last trading up by \u200b72 cents at $92.97 as of 3:20 p.m. EDT (1720 GMT).<\/div><div>U.S. oil futures eked out marginal \u2060gains to settle up 22 cents, or 0.3%, at $88.90 a barrel.<\/div><div>Oil prices have been volatile in recent \u200bsessions on conflicting signals on the possibility of an end to the three-month Iran war and potential re-opening of the Strait \u200bof Hormuz. Traffic through the maritime chokepoint remains a small fraction of the pre-war level.<\/div><div>An agreement had been reached to extend the ceasefire in the Middle East for 60 days, four sources familiar with the matter told Reuters. News outlet Axios \u200bfirst reported about the deal on Thursday.<\/div><div>The agreement still needs U.S. President Donald Trump&#8217;s approval, sources told \u200bReuters. Iran&#8217;s Tasnim news agency, meanwhile, said the text of a potential memorandum of understanding with the U.S. has \u200cnot yet \u2060been finalized or confirmed.<\/div><div>In early trading, Brent and WTI futures were up more than 2%, after Iran&#8217;s Revolutionary Guards said they had targeted a U.S. air base in response to a U.S. attack on the port city of Bandar Abbas.<\/div><div>&#8220;The complex continues to advance grudgingly on bullish developments out of Iran while plunging markedly on even the slightest \u200bsuggestion of a reopening \u200bof the Strait of \u2060Hormuz,&#8221; oil trading advisory firm Ritterbusch and Associates said.<\/div><div>&#8220;This contrast in responses to bullish and bearish inputs could continue as long as the ceasefire remains intact.&#8221;<\/div><div>Oil \u200bprices were also under pressure from official U.S. data that showed the country&#8217;s crude oil stockpiles fell by 3.3 \u200bmillion barrels \u2060last week, a sixth consecutive week of declines but lower than the 4.1-million-barrel draw analysts polled by Reuters expected.<\/div><div>U.S. gasoline and distillate fuel stockpiles also fell.<\/div><div>The oil market remains more sensitive to Middle East headlines despite another \u2060week \u200bof large declines in U.S. stockpiles, UBS analyst Giovanni Staunovo said.<\/div><div><address><div><div><noscript>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" alt=\"Shariq Khan\" class=\"wp-image-331\" src=\"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/05\/e11d06e6baeb8855c69791127affebd6.avif\"\/><\/figure>\n<\/noscript><\/div><div>Shariq Khan<\/div><\/div><div><ul><li><span><div><svg><title>Email<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>X<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>Linkedin<\/title><\/svg><\/div><\/span><\/li><\/ul><\/div><\/address><\/div><\/div><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=329\">Anthropic valued at $965 billion after raising $65 billion in latest round<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=327\">Netanyahu directs Israeli forces to expand Gaza control to 70 percent<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=325\">Spurning just war, Pope Leo ends Catholic \u2018permission slip\u2019 for conflicts<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Oil prices settled mixed on \u200cThursday after a choppy trading session, as traders mulled conflicting reports of progress on a potential deal to extend a ceasefire between the U.S. and Iran.<\/p>\n","protected":false},"author":1,"featured_media":330,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[21,46,86,29],"class_list":["post-332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-energy","tag-fuel-oil","tag-storage","tag-transport-fuels"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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