Financial Mirror29 May 2026

WTI holds near $86.50 on US-Iran ceasefire extension

The benchmark West Texas Intermediate crude oil lost ground for the third successive day, trading around $86.60 per barrel early Friday on easing supply concerns following reports of a tentative 60-day ceasefire extension between the US and Iran.

This potential geopolitical breakthrough significantly raised prospects for unrestricted shipping through the critical Strait of Hormuz....

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