[69148] Turmoil in the energy market: The impact of US-Iran talks on oil prices

Turmoil in the energy market: The impact of US-Iran talks on oil prices

The global energy market experienced significant volatility on May 21, 2026, against the backdrop of dramatic geopolitical developments. According to Sondakika Haber Gündem, oil prices in international markets recorded a sharp decline of about 5.5%, following "positive news regarding the flow of information concerning talks between the US and Iran".

At the same time, data points to changes in US oil inventories. According to Sondakika Haber Gündem, US commercial crude oil inventories fell last week by about 7.9 million barrels compared to the previous week.

Despite the optimism in the markets, the Haber Gündem channel reports a tense atmosphere in light of "the crisis in the Strait of Hormuz," which is defined as the most severe crisis in history in terms of supply disruptions. The oil giant ADNOC issued an unusual warning, stating that even if the crisis with Iran were to end now, the flow of oil in the Middle East might "not fully recover until 2027".

These reports come against the backdrop of US President Donald Trump's statement that negotiations with Tehran are in the "final stage." Brent crude oil prices climbed above $105 per barrel, while WTI crude oil traded around $99, indicating continued uncertainty despite the optimistic diplomatic reports.