Oil prices on hopes for a Hormuz agreement 90fall into the dollar range as the dollar weakens

2026-05-25Expectations of progress in negotiations related to the Strait of Hormuz had an immediate impact on oil prices and exchange rates. International crude oil futures fell, dropping to around 90dollars per barrel by some contract measures. Brent crude fell below 100dollars.

The dollar weakened against major currencies. The dollar's weakness moved in tandem with fluctuations in commodity prices such as crude oil. Several market participants cited expectations of an agreement as the cause.

Gold futures rose amid a weaker dollar and falling oil prices. Gold prices increased because of its safe-haven characteristics and sensitivity to currency volatility. Trading volume increased during periods of heightened volatility.

In commodity markets, crude oil, gold and currencies moved simultaneously. The sharp drop in crude oil directly affected energy-related prices and derivatives positions. Movements in currencies and gold were linked to global investors adjusting their positions.

The direct backdrop to this price movement was optimism about the resumption of traffic through the Strait of Hormuz and news that eased concerns about supply as a result. Markets reacted quickly to related news. Further volatility may occur if announcements related to future negotiations are made.