Get News Fast
Supporting the oppressed and war-torn people of Gaza and Lebanon

Global oil price today May 20 2025 Brent crude hits $65.50

North ‌Sea Brent crude oil prices rose by 1 cent (0.01%) to $65.50 per barrel today.

According to webangah News Agency, the potential⁢ collapse of U.S.-Iran nuclear negotiations and diminished prospects⁤ for increased Iranian oil supply have driven up ‍crude prices ⁣in ⁢Tuesday’s trading⁢ session.

North⁤ Sea Brent crude rose by 1 cent (0.01%) to $65.50 per barrel, while U.S. ‌West Texas intermediate (WTI) gained 1 cent (0.02%) to trade at $62.70.

Iranian⁣ Deputy Foreign Minister Majid Takht-Ravanchi warned Monday that talks with ​Washington would fail if the U.S. insists ​on complete uranium enrichment ⁤cessation.

U.S Special Envoy ⁢Steve ​Wittkopf ‍reiterated Sunday that any ‌agreement must include enrichment ⁤restrictions to prevent nuclear⁤ weapons development.

A potential nuclear deal ⁤could lift‌ U.S sanctions and⁣ increase Iran’s oil exports by 300,000 barrels per day to ⁢reach⁤ 400,000 bpd.

Market pressures intensified as Moody’s downgraded America’s credit rating amid concerns over ⁢its $36 trillion national debt ‍growth – ​the world’s largest oil consumer facing economic headwinds.

Economic data ⁣from China -​ the top global oil importer – showed slowing industrial production‍ and retail ‌sales growth, further impacting oil ​markets.

Key market drivers include:

  • The‍ Trump-era ‌tariffs’ lingering effects
  • The stalled Iran-U.S negotiations
  • global‍ economic instability
  • The Russia-Ukraine conflict

Russian President Vladimir Putin stated ​monday ⁣that Moscow remains open ​to peace talks with Ukraine following phone discussions with former U.S President Trump, calling current diplomatic efforts “on the right ⁣track.”

News Sources: ⁤© webangah news Agency, Tasnim News Agency, Reuters ‌
English channel of the webangah news agency on Telegram
Back to top button