On May 1, oil prices declined following reports that Iran proposed new diplomatic talks with the United States, mediated by Pakistan. This development led investors to anticipate a potential easing of supply risks, causing West Texas Intermediate (WTI) crude oil to drop below $100 per barrel, while Brent crude fell to $106.98 before recovering slightly. Conversely, natural gas prices in the United States surged, with futures rising to $2.780 per million British thermal units, driven by a decrease in production and record liquefied natural gas (LNG) exports, which reached 18.8 billion cubic feet per day in April. This increase in LNG exports has tightened domestic supply, pushing prices higher despite moderate weather demand. Additionally, pipeline constraints in the Permian region have kept Waha Hub prices negative for 60 consecutive days, illustrating regional imbalances in the gas market. The upcoming OPEC and OPEC+ meeting is expected to address production quotas, but analysts suggest that geopolitical tensions may continue to impact oil supply and prices in the long term.