US-Iran tensions ease, WTI crude oil price predictions fall for May 2026

A de-escalation in US-Iran tensions is anticipated following a statement by the US Secretary of State, leading to predictions of a decline in WTI crude oil prices. Market pricing indicates a reduced probability of WTI Crude Oil reaching $150 in May 2026. The assurance of the Strait of Hormuz reopening is viewed positively by the market, suggesting a lower likelihood of high oil price scenarios.