Bent oil posted its biggest monthly loss in six years as traders hoped that the U.S. and Iran are nearing a deal that will reopen the Strait of Hormuz. The international oil benchmark fell more than 19% in May, its worst month since March 2020 when the Covid-19 pandemic closed economies. U.S. West Texas Intermediate crude prices shed nearly 17% in May, its worst performance since April 2025. Prices fell Friday after President Trump said he would meet in the White House Situation Room to make a  final determination  about an agreement with Iran. West Texas Intermediate lost 1.73% to close at $87.36 per barrel while Brent fell 1.77% to settle at $92.05 per barrel. But Trump laid out a series of demands that Iran has rejected in the past. Tehran must agree it will never have a nuclear weapon, the U.S. president said, and must immediately open the Strait of Hormuz to unrestricted traffic in both directions without tolls.…