---
title: "Oil Falls: Trump Pauses, Markets Await Peace in the Strait of Hormuz"
description: "Oil prices are falling amid hopes for a US-Iran deal: Trump pauses before deciding on the ceasefire. 🛢️📉 The Strait of Hormuz is once again the focus of investors. 🌊"
date: 2026-05-29T04:44:00.000Z
lang: en
url: https://xab.info/en/posts/oil-falls-trump-pauses-markets-await-peace-strait-of-hormuz
tags: []
publisher: "XAB.info"
---

# Oil Falls: Trump Pauses, Markets Await Peace in the Strait of Hormuz

![Silhouette of an oil pumpjack against illuminated storage tanks at twilight, illustrating the situation in the oil market](https://xab.info/media/2026/05/29/neft-padaet-tramp-vzyal-pauzu-ormuzskiy-proliv/neftyanaya-promyshlennost-na-zakate.webp)

Commodity markets have frozen again in anticipation. On Friday, May 29, prices for black gold began to decline steadily. The main reason is investors' hopes that tensions in the Persian Gulf will finally subside. On the agenda is a potential deal between Washington and Tehran that could extend the ceasefire.

Financial instruments reacted instantly. Futures for the benchmark Brent crude fell by 35 cents, dropping to $93.36 per barrel. The American WTI variety showed an even more noticeable decline — down 63 cents, closing at $88.27.

Looking at the weekly trend, the picture looks even more dramatic. Over seven days, prices plummeted by more than 8%. Brent, which was trading at $109.47 at the beginning of the week, is now hovering near a low of $87.11. The market is demonstrating high volatility, reacting to the slightest signals regarding the fate of the Strait of Hormuz — a key node of global trade.

In recent days, the situation in the region has been extremely unstable. On the night of May 25-26, the US Air Force struck Iranian boats and air defense missile systems in southern Iran. The pretext was Tehran's attempt to mine the strait and open fire on US aircraft. On the night of May 28, the strikes continued: the US attacked a military facility posing a threat to shipping and shot down several drones.

It was these events that previously pushed oil prices up, causing panic loading of ships. However, amidst the military actions, reports appeared in the media about the coordination of a framework deal. The document provides for extending the ceasefire for another 60 days. During this time, the parties must guarantee the free passage of ships through the Strait of Hormuz and find a compromise on Iran's nuclear program. A successful resolution of these issues should lead to the signing of a final agreement.

But there is an important nuance keeping markets on edge. US President Donald Trump has taken a pause of several days to make a final decision on ratifying the framework agreement. While Trump thinks, oil is getting cheaper, and traders are trying to guess whether this step will be the beginning of a peace process or just a calm before a new storm.