Oil edged lower as market awaited geopolitical clarity
Further downside pressure came from China, where new government data indicated slowing industrial output and tepid retail sales growth—both interpreted as warning signs of cooling economic momentum.
Crude oil prices edged lower on Tuesday, 20 May 2025, as markets weighed uncertainty surrounding US–Iran nuclear negotiations and digested fresh economic data signalling a cautious outlook for China, the world’s largest oil importer.
Brent crude slipped by 16 cents, or 0.2%, to settle at $65.38 per barrel
WTI declined 13 cents, or 0.2%, closing at $62.56.
The market retreated after Iran’s Supreme Leader voiced scepticism over ongoing talks with the United States, dampening hopes of a breakthrough that could lead to the easing of sanctions and a potential surge in Iranian oil exports. Industry analysts estimate that a deal could enable Tehran to increase exports by 300,000 to 400,000 barrels per day.
Further downside pressure came from China, where new government data indicated slowing industrial output and tepid retail sales growth—both interpreted as warning signs of cooling economic momentum.