Oil prices fell more than 5% Tuesday evening, according to market reports, driven by speculation that sanctions on Iranian crude may be eased. The drop extends a volatile period shaped by US-Iran tensions and the recent peace deal.
Oil prices dropped more than 5% Tuesday evening, according to market reports, on speculation that sanctions on Iran's crude exports could be eased. The move comes amid a volatile period for oil markets driven by US-Iran tensions, the closure of the Strait of Hormuz, and the subsequent peace deal announced last week.
As The Zioneer reported, Brent crude fell to $83 per barrel on Monday following the US-Iran peace deal announcement (11:33 Jerusalem), after earlier surging above $93 on June 10 when President Trump threatened Iran. The current speculation adds a new dimension: markets appear to bet that sanctions relief could increase global supply, putting further downward pressure on prices.
The claims of a potential sanctions easing remain unverified, with no official confirmation from either the US or Iran. The source for this report is a single financial-market channel.
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