United States and IranMěi Yī美伊ceasefiretínɡhuǒ停火news / informationxiāoxi消息to come in / to arrive (news)chuánlái传来，internationalɡuójì国际oil priceyóujià油价May5 yuè5月to drop sharply / to fall significantlydàdiē大跌17 percent17%17%。
May 30, 2026 at 11:00 AM
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BusinessInternational Oil Prices Fall 17 Percent in May on US-Iran Ceasefire Reports
International oil prices fell about 17 percent in May, the biggest monthly drop since 2020, after reports emerged of a US-Iran ceasefire agreement.
In May, international oil prices declined sharply. Brent crude oil futures prices fell to 91.2 dollars per barrel, with monthly decline of approximately 17 percent. This is the largest single-month decline since 2020. Market decline's reason is United States and Iran possible ceasefire news. If ceasefire succeeds, Hormuz Strait will reopen. This strait is very important for global oil transportation. However, currently both countries have not formally signed an agreement.
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