Oil Holds Decline as Potential Iran Deal Raises Supply Concerns

Bloomberg.com · last updated May 15, 2025 – 9:16 PM

Oil was steady after two days of losses as a potential nuclear deal between the US and Iran risks exacerbating a glut forecast for later this year.

Brent traded below $65 a barrel after declining 2.4% on Thursday in its biggest daily drop this month, while West Texas Intermediate was near $62. President Donald Trump suggested the US is closer to an agreement to curb Iran’s nuclear activities.

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