WTI Crude Rebounds to $97.55 as US-Iran Deal Doubts Resurface

On May 22, WTI crude rebounded to $97.55 after investors grew skeptical that U.S.-Iran talks would produce a breakthrough on uranium stockpiles and Strait of Hormuz navigation. Prices had tumbled sharply earlier in the week on optimism over easing tensions and Trump comments signaling final-stage negotiations, briefly dropping below $96 before recovering. Persistent supply risks from the closed strait and Iran's red lines on enriched uranium kept markets volatile, with the benchmark still headed for a weekly loss exceeding 7% despite the intraday bounce. Bullish EIA inventory draws and tanker disruptions provided underlying support amid the geopolitical swings.