Oil prices tumble over 20% in May, marking worst month since 2020
Oil prices experienced a significant decline in May, marking the worst month since 2020. Brent crude fell nearly 19%, while West Texas Intermediate dropped around 16.5%. The decrease is attributed to optimism surrounding a potential U.S.-Iran ceasefire and easing tensions in the Strait of Hormuz.
- ▪Brent crude settled around $92-$93 per barrel after a nearly 19% drop in May.
- ▪West Texas Intermediate traded near $87 per barrel, reflecting a decline of roughly 16.5%.
- ▪The decline in oil prices is linked to growing optimism about a potential 60-day U.S.-Iran ceasefire extension.
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Oil prices tumble over 20% in May, marking worst month since 2020 A potential U.S.-Iran ceasefire and easing Strait of Hormuz tensions drove Brent crude from highs above $114 to the low $90s, with ripple effects across crypto markets. Share Add us on Google by Editorial Team May. 29, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); Oil just had its worst month in six years.
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