Crude Oil Prices Fall on the Outlook for a US-Iran Truce

May WTI crude fell $3.26 (-3.53%) and May RBOB gasoline dropped $0.1412 (-4.56%) as markets pared risk premia on hopes that US‑Iran diplomacy could end the war in Iran. The move was compounded by an unexpected increase in weekly EIA crude inventories, putting near‑term downward pressure on oil and gasoline prices and likely keeping volatility elevated until clarity on geopolitics and inventory trends.

Analysis

May WTI crude fell $3.26 (-3.53%) and May RBOB gasoline dropped $0.1412 (-4.56%) as markets pared risk premia on hopes that US‑Iran diplomacy could end the war in Iran. The move was compounded by an unexpected increase in weekly EIA crude inventories, putting near‑term downward pressure on oil and gasoline prices and likely keeping volatility elevated until clarity on geopolitics and inventory trends.