Oil falls to 3-1/2-month low after U.S., Iran sign ceasefire deal

Live updates

1. 2h ago

   Oil Hits 3-1/2-Month Low Following U.S.-Iran Ceasefire

   Oil prices dropped to levels not seen since early March after the U.S. and Iran signed a framework peace agreement. Brent crude fell to $77.41 a barrel as the deal reopens the Strait of Hormuz and waives sanctions on Iranian oil. The IEA expects a significant oil surplus in 2027 following the recovery of the strait.

   What's confirmed:

   • Brent crude futures fell to $77.41 a barrel.
   • The U.S. and Iran signed an interim agreement to end the war and reopen the Strait of Hormuz.
   • The deal includes a waiver of U.S. sanctions on Iranian oil.
   • Crude prices reached their lowest level in more than three months.

   Still unconfirmed:

   • The U.S.-Iran 14-point agreement extends the April ceasefire for 60 days.
   • The IEA predicts a significant oil surplus in 2027 after the Hormuz recovery.
   • Market fundamentals are expected to remain tight.
   confidence 90%
2. 4d ago

   Oil Prices Hit 3-1/2-Month Low Following U.S.-Iran Ceasefire

   Oil prices dropped after the U.S. and Iran signed an interim agreement to end the war. The deal reopens the Strait of Hormuz and waives U.S. sanctions on Iranian oil. Brent crude fell to $77.41 a barrel.

   What's confirmed:

   • The U.S. and Iran signed an agreement to end hostilities.
   • The deal reopens the Strait of Hormuz.
   • Oil prices reached their lowest levels in three months.

   Still unconfirmed:

   • Brent crude futures fell 2.69 percent to $77.41 a barrel as of 09:16 a.m. Saudi time.
   • Oil prices fell by more than $2 per barrel on Thursday.
   confidence 90%
3. 5d ago

   Oil Prices Hit Three-Month Low Following US-Iran Peace Deal

   Global oil prices dropped to their lowest levels since March after the United States and Iran reached an agreement to end the conflict. The deal includes the reopening of the Strait of Hormuz and the end of a US blockade on Iranian ports. Brent crude fell below $80 per barrel as markets anticipated a revival in energy supply.

   What's confirmed:

   • Oil prices hit their lowest levels in three months on Monday.
   • The United States and Iran reached an agreement to end a US blockade of Iranian ports and reopen the Strait of Hormuz.
   • Brent crude prices fell below $80 per barrel.
   • Donald Trump posted "Let the oil flow" regarding the peace deal.
   • The agreement was a primary topic at the G7 meeting in France.

   Still unconfirmed:

   • Leading Wall Street banks have reduced their price forecasts.
   • Netanyahu is paying a political price for the deal.
   • A 14-point draft memorandum exists between the US and Iran.
   confidence 95%