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U.S. crude futures fell more than 6% in early Asian trade on Tuesday after Nikkei reported that the U.S. and Iran are discussing a plan to reopen the Strait of Hormuz about 30 days after the two countries reach a deal to end hostilities.
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U.S. West Texas Intermediate at 2205 GMT was down $5.90 or 6.1% to $90.73 per barrel. The contract fell 6.5% in the previous session.
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(Reporting by Pooja Menon in Bengaluru; Editing by Cynthia Osterman)
Copyright Reuters or USA Today Network via Reuters Connect.
This story was originally published May 25, 2026 at 3:12 PM.