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The signing of the US-Iran agreement lowers the price of oil on world markets

Politiko 2026-06-18 09:49:07

The signing of the US-Iran agreement lowers the price of oil on world markets

Oil prices continued to fall on Thursday, as markets reacted positively to the entry into force of the interim agreement between the United States and Iran.

Investors believe that the reopening of the Strait of Hormuz and the return of Iranian exports to international markets will significantly increase global oil supply.

Brent crude fell below $78 a barrel, extending losses in recent days and approaching its lowest levels since early March. Meanwhile, U.S. WTI crude is trading below $75 a barrel.

The price drop came after the US and Iran digitally signed the interim peace deal, negotiated over the past few weeks.

According to a US official, the memorandum of understanding has now entered into force, representing an important step towards reducing tensions that had caused instability in international energy markets.

Additional pressure on prices is also being exerted by the forecasts of the International Energy Agency (IEA), which estimates that in the coming years the global market may face a production surplus.

This perspective, combined with expectations for increased supply from Iran, has strengthened expectations for a further stabilization and reduction in oil prices in world markets.

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