- Crude oil futures experienced extreme volatility with Brent climbing nearly 4% to $97.90 per barrel following fresh maritime confrontations in the Strait of Hormuz
- The U.S. Treasury Department issued new sanctions against the Persian Gulf Strait Authority to block Iranian revenue from waterway tolls
- Market analysts at JPMorgan and UBS warned of potential oil shocks and sticky inflation if the fragile April ceasefire between the U.S. and Iran fails to hold
- Despite the weekly drop in retail prices, oil remains on track for a second consecutive weekly decline as investors weigh the possibility of an interim peace deal
United States gas prices record sharpest weekly decline of 2026 amid Middle East volatility
May 28, 2026, 2:13:47 PM UTC(2 hours ago)
Impact: Medium
Affected Assets
Sources
From:@DeItaone
GAS PRICES POST BIGGEST DROP OF 2026
U.S. gas prices fell 15.2¢/gal in a week to about $4.405/gal, with diesel at $5.52/gal (GasBuddy).
Prices could fall further, but remain volatile amid U.S.–Iran tensions.
