Oil edges lower on hopes of quick Iran war end

May 20, 2026 (MLN): Oil prices edged lower on Wednesday as signals of  Iran war to end quickly kept markets on edge over the trajectory of the U.S.-Iran conflict and its impact on Middle East energy supplies.

Currently, Brent crude futures are down by $0.41, or 0.37%, to $110.87 per barrel, according to data by Mettis Global.

West Texas Intermediate (WTI) crude futures are down by $0.34 or 0.33%, to $103.67 per barrel by [11:19 am] PST.

Crude benchmarks had already shed nearly a dollar on Tuesday after U.S. Vice President JD Vance indicated that negotiations with Tehran were moving forward, with both sides reluctant to see further military escalation, Reuters reported.

 President Donald Trump added to the cautious optimism late Tuesday, telling lawmakers the war would be over "very quickly."

With diplomatic progress remaining fragile and Middle East supply disruptions still weighing on the market, traders are holding back from making bold moves until a clearer picture emerges from the negotiating table.

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