Day: May 21, 2026

crude breaks $100

Crude Breaks $100. Iran Opens the Strait. India’s Markets Breathe

by

Morning Market Brief
Thursday, 21 May 2026
· Issue #53 · F&O Expiry
Crude Breaks $100.
Iran Opens the Strait.
India’s Markets Breathe.
In a single Wednesday session, the defining macro headwind of May 2026 cracked open. WTI crude fell 6.55% to $97.33 — the first sub-$100 close since the Iran conflict began. Trump confirmed “final stages” of peace talks, and three supertankers crossed the Strait. Thursday is F&O expiry day, WPI came in at a scorching 8.3% — but for the first time in three weeks, the bulls have a credible macro argument. Here’s everything before 9:15 AM.