May 28, 2026

Oil prices fell yesterday amid signs of a possible agreement between the United States and Iran.

International

Yesterday, Iranian state media released initial details of a “Memorandum of Understanding” with the United States aimed at ending the conflict and, among other things, committing both countries to reopening the Strait of Hormuz. In this context, Brent crude closed down 4.7% yesterday, settling at $94.90 per barrel. However, overnight, renewed direct and defensive attacks between the forces of both countries threatened the stability of the ceasefire.

As for the main US stock indices, they closed with minimal movement yesterday. The S&P 500 remained unchanged at the close of trading, while the Nasdaq advanced just 0.1%, and the Dow Jones gained 0.4%. Thus, year-to-date gains stand at 9.9%, 14.8%, and 5.4%, respectively.

Finally, US Treasury yields also remained largely unchanged. The 1-year bond closed at 3.79%, just below the previous 3.80%, while the 3-year bond closed at 4.08%, unchanged from Tuesday, and the 10-year bond settled at 4.48%, also similar to the previous day's yield.

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