Crude oil prices fell on 29 May after tentative US-Iran ceasefire talks raised hopes for smoother oil flows. Brent crude dropped nearly 19% in May, while WTI hovered around $87. Ongoing discussions may impact future prices amid geopolitical uncertainties. Crude oil prices declined on Friday, 29 May, after the US and Iran tentatively agreed to extend the ceasefire by 60 days, raising hopes of smoother oil flows through the Strait of Hormuz.