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The Commodities Feed: Oil falls as US-Iran sign deal

Recent developments signal a substantial shift in oil dynamics, primarily driven by the US-Iran peace agreement. Per the full note from ing-think, oil prices have dropped significantly, with WTI now trading below $75/bbl and Brent seeing its lowest levels since March. The reopening of the Strait of Hormuz and the anticipated lifting of US sanctions on Iran could quickly enhance supply levels, with market participants now adjusting their expectations for 2026 demand, which the IEA forecasts to decline by 1.1 million barrels per day (b/d) compared to a previous estimate of 700,000 b/d. This evolving scenario suggests a need for traders to reassess their positions ahead of any potential normalization in oil flows.

Morgan Stanley Oil Price Forecast: Brent Falls to $83.55 After US-Iran Deal - El-Balad.com