Oil falls to lowest since start of Iran war after ceasefire deal signed

Oil prices fell 2% to their lowest level since the first trading day of the Iran war after reports of a U.S.-Iran interim deal to end the conflict, reopen the Strait of Hormuz, and ease sanctions on Tehran. The move boosts the global supply outlook by reducing geopolitical supply risk and potentially restoring more crude flows. The headline is market-wide for energy and broader inflation expectations.

Analysis

Oil prices fell 2% to their lowest level since the first trading day of the Iran war after reports of a U.S.-Iran interim deal to end the conflict, reopen the Strait of Hormuz, and ease sanctions on Tehran. The move boosts the global supply outlook by reducing geopolitical supply risk and potentially restoring more crude flows. The headline is market-wide for energy and broader inflation expectations.