WTI Swings Nearly $10, Settles at $97.77 as Iran Uranium Order Jolts US Talks

8 articles · Updated · OilPrice.com · May 22

$97.77 a barrel was July WTI's Thursday settlement, leaving it up 3.35% for the week after a volatile run between $95.76 and $105.21.
Iran's order to keep enriched uranium inside the country briefly pushed crude more than 3% higher, as traders saw a greater risk that US-Iran nuclear talks could stall and threaten supply.
The rally faded later Thursday when markets shifted toward possible progress in negotiations between Tehran and the Trump administration, stripping out part of the geopolitical premium.
The nearly $10 weekly range showed crude trading on Iran and Strait of Hormuz headlines rather than routine supply-and-demand signals.

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