Oil Prices Near Three-Month Low Amid US-Iran Peace Pact
Oil prices hovered near a three-month low as investors evaluated the implications of an emerging peace agreement between the US and Iran, which could allow Iranian oil exports through the Strait of Hormuz. Both Brent crude futures and WTI edged slightly higher but had dropped about 5% in the previous session due to market optimism over increased supply potential.
Topics: Brent crude geopolitics oil US-Iran relations WTI