US Crude Futures Plunge Over 6% Amid Possible Strait of Hormuz Reopening Talks
Market Reaction to Strait of Hormuz Reopening Discussions
Overview of Price Movements
May 26 (Reuters) - U.S. crude futures fell more than 6% in early Asian trade on Tuesday after Nikkei reported that the U.S. and Iran are discussing a plan to reopen the Strait of Hormuz about 30 days after the two countries reach a deal to end hostilities.
Details of U.S. Crude Futures Drop
U.S. West Texas Intermediate at 2205 GMT was down $5.90 or 6.1% to $90.73 per barrel. The contract fell 6.5% in the previous session.
Reporting and Editorial Credits
(Reporting by Pooja Menon in Bengaluru; Editing by Cynthia Osterman)
