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Crude oil futures drop after Trump promises an Iran deal will be signed Friday

Oil prices had already fallen quite dramatically on Thursday and Friday, in anticipation of an imminent deal. President Trump has posted online that the Strait of Hormuz will reopen after the deal is signed on Friday.

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Crude oil futures drop after Trump promises an Iran deal will be signed Friday
Source: NPR News
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A ship remains anchored on May 16, 2026 in the Strait of Hormuz near Larak Island, Iran.

Oil prices had already fallen quite dramatically on Thursday and Friday, in anticipation of an imminent deal. President Trump has posted online that the Strait of Hormuz will reopen after the deal is signed on Friday.

(Image credit: Majid Saeedi)

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Originally published at

NPR News

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