Oil price drops amid hopes of US-Iran peace deal
Global oil benchmarks plummeted today, with Brent crude futures nearing a 17% monthly decline, as markets absorbed fresh signals of significant progress in US-Iran indirect talks. Diplomatic overtures, largely facilitated by Gulf intermediaries like Oman and Qatar, suggest Washington and Tehran are closer to a de-escalation agreement that could see a gradual easing of sanctions on Iranian oil exports. This prospect of millions of additional barrels flooding an already soft market is recalibrating energy trading floors.













