BlockBeats News, May 20th. On Wednesday, both WTI and Brent crude oil prices fell by over 2% as President Trump once again claimed that the war with Iran would soon end. However, due to ongoing supply disruptions in the Middle East, investors remain cautious about the outcome of the negotiations. Emril Jamil, Senior Oil Research Analyst at the London Stock Exchange Group, stated that as the market assesses the geopolitical situation, benchmark oil prices softened on the potential for an agreement. Even if an agreement is reached, oil prices may still have some upside potential as supplies are unlikely to immediately return to pre-war levels.

Fujitomi Securities analyst Toshitaka Tazawa mentioned that given the ever-changing stance of the United States, investors are closely watching whether the U.S. and Iran can truly find common ground and reach a peaceful agreement. Considering the possibility of the U.S. launching further strikes against Iran and the fact that even with a peace agreement, crude oil supply will not quickly return to pre-war levels, oil prices may continue to remain elevated.