Oil prices edge lower as U.S. waits for Iran response to deal proposal

• Investors continue to assess the latest developments in the Middle East amid concerns over renewed tensions between Iran and the U.S.
• President Donald Trump said Wednesday Iran will be bombed “at a much higher level” if it doesn’t agree to a peace deal

Oil prices edged lower on Thursday, as the U.S. waits for Iran’s response to a proposal to end the war and reopen the Strait of Hormuz.

Source: https://www.cnbc.com/2026/05/07/oil-prices-today-trump-iran-strait-of-hormuz-us-crude-brent-.html