From Yahoo Finance: 2025-05-19 15:25:00

Oil prices ended slightly higher after a turbulent trading day, with Brent settling near $65.50 and WTI also rising. Talks of a Russia-Ukraine truce and Iran nuclear deal impact prices. President Trump announced talks between Russia and Ukraine, adding to market uncertainty. Tehran vows to pursue civilian nuclear energy despite US pressure.

Uncertainty over Iran deal and Russia sanctions contribute to oil market volatility. President Pezeshkian insists Iran won’t abandon nuclear energy pursuit. Investors eye potential impact on global market oversupply. Tighter sanctions could boost prices, while easing could add more barrels to the market.

Oil prices initially dropped with other risk assets after Moody’s downgraded US credit rating, fueling concerns over economy and oil consumption outlook. Despite this, North Sea market shows signs of bullish activity, with increased buying interest and unanswered bids for US crude.

Crude prices have rebounded in the past two weeks due to uncertainty in US-Iranian talks and Israel’s strikes in Yemen. However, prices are still down over 10% this year due to trade war fears impacting demand and OPEC+ increasing production in an oversupplied market.

Read more: Oil Ends Higher After Volatile Day Amid Ukraine Ceasefire Talks