US Commodity Futures Trading Commission (CFTC): for the week to May 26 crude oil speculators cut WTI net-long positions by 19,186 contracts to 91,163.

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Iran's foreign ministry said Iran's foreign minister and Oman's foreign minister spoke by phone on bilateral relations and the regional situation. Iran said any final agreement with the US depends on Washington ending what it called excessive, shifting demands and stressed Iran's firmness in defending its legitimate rights and interests. It praised Oman's principled, responsible stance on regional peace, condemned US threats to Oman, and said measures taken by Iran and Oman to secure the Strait of Hormuz and ensure smooth shipping are based on international law and serve global interests. Iran also condemned Israeli actions in Lebanon and the occupied Palestinian territories and urged regional states, the OIC and the UN to take urgent action to stop the aggression and ongoing genocide.