Business
Oil prices slip as Trump signals imminent Iran deal decision
📅 May 29, 2026 12:00 ET
⏱ 1 min
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GazetaDay Editorial
President Donald Trump announced that a "final determination" on Iran is forthcoming, prompting a decline in oil prices as markets anticipate a potential resolution.
Breakthrough prospects
Trump stated that the United States is nearing a deal with Iran, though he did not provide specific terms or a timeline. The comment triggered a drop in crude prices, with benchmark oil trading at approximately $72 per barrel on May 29, 2026.
Market reaction
The prospect of eased sanctions on Iran, a major oil producer, raised expectations of increased global supply. Traders reacted by pricing in lower crude values, reflecting the potential for additional barrels to enter the market.
Currency and digital asset movements
The Russian ruble weakened against major currencies, with the dollar trading at 71.02 rubles (down 0.35) and the euro at 82.64 rubles (down 1.05). Bitcoin rose 1.3% over 24 hours to $73,711.
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