Oil Slips Below $75 As US, Iran Agree Deal To End Major Supply Disruption

Crude oil prices fell sharply on Thursday, with the WTI crude slipping below $75 per barrel for the first time since early March 2026, market participants said, after the United States and Iran reached an agreement to end a prolonged conflict that had caused the largest supply disruption on record.
Traders and analysts told reporters that the announcement of an interim deal and resumed shipping through the Strait of Hormuz prompted a rapid reassessment of near-term supply risks.
A market analyst at IG Australia Pty Ltd., Tony Sycamore, noted in a note cited by Reuters that it is challenging to foresee crude oil prices declining significantly over the next 60 days given uncertainties a...