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Oil prices drop after US Iran ceasefire holds as Hormuz shipping resumes and traders shift focus to inventories
Economy
Published on 5 May 2026
Ceasefire eased supply fears but inventories now decide direction
Oil prices slid about 3% as a fragile US Iran ceasefire held and a vessel transited the Strait of Hormuz, easing immediate supply risk and lifting hopes for smoother shipping. Traders are now shifting from geopolitics to data, especially oil inventory updates, to gauge whether Brent and US WTI will keep falling or rebound amid lingering geopolitical uncertainty.
- Oil fell sharply after the ceasefire between the US and Iran held
- Hormuz shipping resumed, reducing near term supply fears
- Market sentiment is now hinging on oil inventory data
- Investors are weighing ongoing geopolitical risk against demand outlook
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times