Oil falls over 5% as Iranian TV says it has seen draft deal with U.S. to reopen Hormuz

Oil fell over 5% as Iranian state TV reported a draft initial framework for an agreement with the United States to end the conflict and reopen the Strait of Hormuz. The reported progress eased fears of supply disruption through a critical global shipping chokepoint, pressuring crude prices sharply lower. The move carries broad implications for energy markets and inflation-sensitive assets.

Analysis

Oil fell over 5% as Iranian state TV reported a draft initial framework for an agreement with the United States to end the conflict and reopen the Strait of Hormuz. The reported progress eased fears of supply disruption through a critical global shipping chokepoint, pressuring crude prices sharply lower. The move carries broad implications for energy markets and inflation-sensitive assets.