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Global oil prices drop below $108 a barrel after Trump reaffirms he would end the war in Iran ‘very quickly’; Hormuz sees increased tanker traffic

May 20, 2026
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Global oil prices drop below $108 a barrel after Trump reaffirms he would end the war in Iran ‘very quickly’; Hormuz sees increased tanker traffic




Oil futures were sliding on Wednesday following comments from President Trump that the war in Iran would be ended “very quickly.”

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