Oil prices fell more than 7 percent on May 25 before Brent approached $98 a barrel and West Texas Intermediate neared $91, according to Straits Times reporting. US forces conducted strikes on missile sites and mine-laying boats near the Strait of Hormuz, where explosions were heard near Sirik and Jask, while the waterway remains described as essentially closed. President Trump stated talks were proceeding nicely and Pakistan’s military chief indicated to China that a deal was close, alongside earlier crude rallies in March and April and Japan’s Nikkei 225 reaching 65,000.