---
title: "Why Is Oil Down 3% Today, 5/26/26?"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/287649476.md"
description: "Brent crude oil prices fell over 3% as U.S.-Iran peace negotiations continue. The focus is on Iran potentially reopening the Strait of Hormuz, crucial for global oil flows, after clearing mines. No deal has been finalized, with key issues like Iran's nuclear program and frozen funds still unresolved, according to Secretary of State Marco Rubio."
datetime: "2026-05-26T13:57:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/287649476.md)
  - [en](https://longbridge.com/en/news/287649476.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/287649476.md)
---

# Why Is Oil Down 3% Today, 5/26/26?

Brent crude oil (BZ) is down by over 3% on Tuesday as the U.S. and Iran continue to negotiate a peace deal.

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All eyes are on Iran to reopen the Strait of Hormuz, which is responsible for roughly 20% of global oil flows and has operated at a near standstill since the onset of the war on February 28. On Monday, _Nikkei Asia_ reported that Iran was considering reopening the waterway 30 days after a deal to end hostilities is signed.

## **No Deal Yet as Key Sticking Points Persist**

During that period, Iran would work to clear the mines it placed in the waterway. Once completed, ships from all nations would be able to pass through the Strait of Hormuz without paying transit fees.

However, neither country has announced a deal yet, with Secretary of State Marco Rubio saying it could take a "few more days" before any official announcement is made. Several sticking points remain, including the future of Iran's nuclear program and the release of billions of dollars in frozen Iranian funds.

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