# West Texas Intermediate traded around $96 a barrel.

*business · news · 2026-05-23 · The Hindu Business Line*

## Key points

- Pakistan's army chief is mediating talks in Tehran, signaling possible progress toward a US-Iran peace deal.
- Iran acknowledged the latest US proposal partly bridged the negotiation gap, but major disputes remain.
- Global crude oil and product stockpiles are being drawn down at a record pace, says Goldman Sachs.
- The International Energy Agency may release additional oil stockpiles if the crisis continues.

**Companies:** Goldman Sachs Group Inc., Commerzbank AG, BOK Financial Securities Inc.
**Countries:** United States, Iran, Pakistan, United Arab Emirates

[Read the full story on The Hindu Business Line](https://www.thehindubusinessline.com/markets/commodities/oil-swings-with-market-focused-on-us-iran-peace-prospects/article71013508.ece)

---

Canonical: https://newsio.io/n/1663a505-d635-4207-a70e-3a1099a4fde9/west-texas-intermediate-traded-around-96-a-barrel-pakistans-army-chief-the-favor
Summarized by Newsio from The Hindu Business Line. https://newsio.io/how-it-works