RE: Weekend trading1 May 2026 16:11
wti falls 5% below $100 amid middle east tensions
the prices of oil futures declined on friday, with west texas intermediate (wti) falling more than 5% and slipping below the $100 mark after reports that iran may have responded to the united states on ceasefire terms.
iran is said to have sent its response through ****stani mediators, according to axios, with a regional source saying, "iran delivered on thursday to the us through the ****stani mediators its response to the latest us amendments on the agreement to end the war." separately, reports said iranian president masoud pezeshkian and parliament speaker mohammad bagher ghalibaf are seeking to remove foreign minister abbas araghchi, as trump also warned he could withdraw us troops from germany, italy, and spain, citing a lack of "help" from allies.
west texas intermediate (wti) for settlements in june fell by 5.05% at 10:12 am et to $99.76 per barrel. meanwhile, brent for the same month's deliveries went down by 3.37% to $106.68.
baha breaking news (bbn) / aa