Oil Falls Below $100 as Trump Signals Cautious Iran Stance

Oil prices eased on May 20 after President Trump adopted a measured tone on Iran, saying he is 'in no rush' and that any conflict would end 'very quickly.' WTI slipped below $100 and Brent eased toward $105 following the delay of planned strikes on May 19. The pullback comes after a sharp rally that pushed prices above $110 amid escalating threats, the effective closure of the Strait of Hormuz, and record SPR drawdowns to 374 million barrels. Earlier policy moves, including extended Russian oil waivers and coordinated IEA releases, have tempered immediate spikes but left markets sensitive to further diplomatic developments.