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Brent crude falls below $99 as US-Iran deal talks signal easing tensions, Bitcoin steadies near $77K.

Market News
24 May 2026
Bitcoin
View Source
Neutral
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Brent crude oil prices dropped below $99 following President Trump's announcement that a US-Iran deal to reopen the Strait of Hormuz is largely negotiated, easing supply disruption fears. The Strait of Hormuz is critical, carrying about 20% of global oil trade, and its reopening could restore millions of barrels per day to the market. Analysts expect Brent to average $60 long-term if tensions ease, with WTI potentially falling into the $80s. Meanwhile, Bitcoin held steady near $77,000 during the US Memorial Day weekend, as crypto markets remained open while traditional US markets were closed. Traders await formal confirmation of the deal, which could significantly impact oil prices and market dynamics in the coming weeks.

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