Oil prices tumble 11% for biggest weekly drop in 7 weeks. Where is liquid gold headed from here?

May 30, 2026

Global markets rallied as oil prices hit seven-week lows. Hopes for a peace deal between the US, Israel, and Iran eased inflation fears. Brent crude and WTI saw sharp declines. Diplomatic efforts continue, but differing descriptions of a potential deal persist. Geopolitical tensions remain a factor. Analysts suggest restoring normal shipping could take months.

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