{
    "success": true,
    "data": {
        "id": 1775146,
        "msgid": "global-oil-prices-plunge-again-as-ceasefire-eases-tensions-1780292215",
        "date": "2026-05-31 07:37:00",
        "title": "Global Oil Prices Plunge Again as Ceasefire Eases Tensions",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Energy",
        "summary": "Global oil prices plummeted this week due to eased geopolitical tensions from the Iran-US ceasefire extension. According to Citigroup, markets are stabilising as investors reduce fears of supply disruptions, though persistent uncertainty remains. The bank also cautioned that sustained higher oil prices may fuel inflation, potentially forcing central banks to implement more hawkish monetary policies.",
        "content": "<p>Global oil prices plummeted this week as investor concerns eased\nfollowing the potential continuation of the Iran-US ceasefire. According\nto Refinitiv data on Friday (29 May 2026), Brent crude fell 1.77% to\n$92.05 per barrel, while West Texas Intermediate (WTI) dropped 1.73% to\n$87.36 per barrel. For the week, Brent declined 11.1% and WTI fell 9.57%\npoint-to-point.<\/p>\n<p>The decline signals relief in energy markets as geopolitical tensions\nsubside, reversing the volatility seen in crude prices over recent weeks\nlinked to Middle East conflicts. The initial two-week ceasefire between\nthe US and Iran began on 8 April 2026 following intense military\nescalation in the region.<\/p>\n<p>Markets initially reacted cautiously, but the agreement proved\ndurable through multiple extensions. A temporary deal announced on 28\nMay proposed a further 60-day ceasefire extension, a more substantial\ncommitment than the previous two-week extension.<\/p>\n<p>The initial ceasefire halted direct attacks on regional\ninfrastructure. The extended agreement signals both parties\u2019 commitment\nto alleviating supply disruption concerns.<\/p>\n<p>Historically, ceasefire extensions have reduced crude oil volatility,\nas seen in previous regional de-escalations. However, traders remain\ncautious due to the fragile nature of negotiations and ongoing minor\nviolation reports.<\/p>\n<p>Citigroup noted that oil markets are finding greater stability as\ninvestors reduce fears of worst-case energy supply disruptions.\nNevertheless, uncertainty around the timing of a final agreement keeps\nglobal central banks alert to inflation risks from energy price\nspikes.<\/p>\n<p>Citi also warned that prolonged oil price increases are beginning to\ngenerate broader inflationary pressures, which could prompt central\nbanks to adopt tighter or more hawkish monetary policies.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/global-oil-prices-plunge-again-as-ceasefire-eases-tensions-1780292215",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}