On the demand side, the U.S. Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point, in line with expectations, to cool inflation, while the dollar fell on hopes for a slower hiking path.
Oil Price Today (May 25): Crude oil hits 2-week low as US-Iran peace deal moves closer. Is the worst behind?
Oil prices dipped to two-week lows as U.S.-Iran peace talks showed progress, potentially reopening the vital Strait of Hormuz. Despite optimism, significant hurdles remain, with