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Oil prices drop over 2% as Trump weighs final decision on Iran deal with tough demands.

Market News
29 May 2026
CNBC
View Source
Bearish
pluang ai news

Oil prices fell more than 2% after President Donald Trump announced he is making a final decision on a potential agreement with Iran. Despite hopes for a deal that has pushed prices down over 17% this month, Trump outlined strict demands including Iran's commitment to never develop nuclear weapons, opening the Strait of Hormuz without tolls, removing mines, and allowing the U.S. to destroy enriched uranium. U.S. officials mentioned a 60-day ceasefire memorandum of understanding is ready but still awaits Trump's approval. The outcome of these talks will significantly impact global oil markets and geopolitical stability.

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