Brent falls to lowest since March on expected peace deal (opens original article in a new tab)

Brent crude prices dropped to their lowest since March as traders anticipated a potential U.S.-Iran peace deal, with WTI also falling to a four-month low. OPEC revised down its 2026 oil demand growth forecast, while Goldman Sachs adjusted its 2027 Brent forecast downward.

• Brent crude prices fell to their lowest since early March due to confidence in a U.S.-Iran peace deal
• U.S. WTI crude hit its lowest level since April 17 as traders anticipated reduced geopolitical tensions
• OPEC lowered its 2026 oil demand growth forecast for the second consecutive time
• Goldman Sachs adjusted its 2027 Brent forecast downward but expects prices to exceed 2025 averages