Global crude oil prices fall further as U.S.-Iran peace deal eases supply fears (opens original article in a new tab)

Global crude oil prices declined further after the U.S.-Iran peace deal eased concerns over Middle East supply disruptions, with Brent and WTI crude falling to three-month lows. Market analysts expect continued volatility as supply expectations and geopolitical risks are monitored.

• Global crude oil prices fell as U.S.-Iran peace deal eased supply fears
• Brent crude futures dropped 1.12% to $78.66 a barrel, WTI crude fell 1.28% to $75.81 a barrel
• Agreement includes plans to reopen Strait of Hormuz and restore maritime traffic within 30 days
• IEA warned of potential global oil supply surplus by 2027 if Iranian exports resume