Oil Slumps to $95 on US-Iran De-escalation Hopes; Nikkei Hits Record High

Key Facts

Amid rising hopes for a geopolitical breakthrough, Brent oil prices crashed toward the $95 per barrel level as expectations grew for the reopening of the Strait of Hormuz to global shipping. This optimism triggered a massive rally in Asian equities, with Japan's Nikkei 225 index surging 2.85% to reach a fresh record high of 65,110 yen. In the corporate sector, Delivery Hero confirmed it received an indicative takeover approach from Uber at a price of €33 per share.

The slump in energy prices has significantly boosted global risk appetite as the geopolitical risk premium, which previously held oil above $100, begins to fade. Per market data, the Nikkei's record run is supported by robust fundamental data, with Japan's GDP growing at an annualized rate of 2.1% (data from May 18, 2026), outperforming the 1.7% forecast. Furthermore, Uber's interest in Delivery Hero highlights a consolidation trend in the food delivery sector, valuing the German firm at a premium to its recent trading range.

Looking ahead, traders are monitoring the $95 support level for Brent crude, while the Nikkei 225 stands at 65,110 yen (close May 25, 2026). Market participants are also awaiting official EIA crude inventory data following the API report on May 19, 2026, which showed a substantial draw of -9.1 million barrels; a confirmation of this trend could provide a floor for oil prices despite the ongoing diplomatic de-escalation.