Oil Prices Drop as Trump Signals Iran Deal Could Be Near

Oil prices fell sharply after President Donald Trump said a peace deal with Iran may be close. Brent crude and West Texas Intermediate both extended losses as traders reacted to signs that tensions in the Middle East could ease.

The move came after Trump canceled planned strikes on Iran, which reduced fears of a wider conflict. Earlier concerns had pushed oil higher because fighting in the region could threaten supplies.

News reports also pointed to hopes that a U.S.-Iran agreement could reopen the Strait of Hormuz, a major shipping route for global oil. About one-fifth of the world’s oil is typically transported through the waterway.

With tensions easing and the chance of a deal rising, oil prices headed toward a three-month low.

Oil fell because investors saw a lower risk of conflict after Trump canceled planned strikes on Iran and said a deal could be close.

It is a key shipping route for oil. If access to it is threatened, global oil supplies can be disrupted.

No. The reports said a framework agreement may have been reached, and Trump said a deal could be signed soon.

FXEmpire

Oil markets are under strong pressure as traders bet that U.S. and Iran will announce a deal soon.

WSJ

Oil fell in early Asian trade on signs of a potential U.S.-Iran peace deal that could reopen Strait of Hormuz, a key waterway through which one-fifth of the world's oil is typically transported.

Reuters

Oil prices fell on Friday, extending losses from the previous session after U.S. President Donald Trump canceled plans to strike Iran, reducing fears of ‌an escalation of hostilities following tit-for-tat attacks earlier in the week.

CNBC

U.S. President Donald Trump said Washington had reached a framework agreement with Iran, raising hopes that tensions in the Middle East could ease. Speaking from the Oval Office, Trump said he expects an agreement to be signed "over the next few days.

Barrons

Brent crude and WTI prices were sinking Friday after President Donald Trump indicated a peace deal with Iran could come as soon as the weekend.

Schwab Network

Reports point to a tentative peace deal between the U.S. and Iran that would reopen the Strait of Hormuz for 30 days. Tom White talks about what it means for the energy trade as crude oil taps two-month lows, and why he remains cautious heading into the weekend.

Investors Business Daily

Oil prices keep falling on Fridays only to rebound as the next week begins.

CNBC

Proposed Iran-U.S. deal would reopen Hormuz strait and lift oil sanctions, Iran state media says

WSJ

Brent and WTI benchmarks extended losses from the previous session after the U.S president said a peace deal could be reached within days.

Market Watch

West Texas Intermediate and Brent crude fell further on Friday on reports that a potential deal would lift oil sanctions on Iran.

Reuters

Since the start of the Iran war and Tehran's announcement that the Strait of Hormuz was "closed", the market has grappled to put a figure on lost crude supply ‌and to predict the price of oil.

Reuters

The extreme volatility of global oil prices has drained liquidity from the market this year at the fastest pace ‌on record, as investors have become increasingly wary of committing cash to an asset that has become hostage to U.S. President Donald Trump's daily social media posts on the Iran war.

The Motley Fool

The U.S. and Iran reportedly could sign a peace deal in the next few days. It would reopen the Strait of Hormuz to oil tanker traffic.

FXEmpire

Oil markets are losing ground as traders focus on news from the Middle East.

WSJ

The prospects for a peace deal, falling Chinese demand and some workarounds to the Strait of Hormuz closure have helped to stop the crude market from going haywire.

CNBC

President Donald Trump posted on Truth Social that a deal to end the war with Iran will be signed on Sunday. He added that the Strait of Hormuz will be opened immediately after the signing.

Market Watch

President Donald Trump said Sunday that the U.S. has agreed to a peace deal with Iran, ending months of hostilities that shut the Strait of Hormuz and sent the global economy into an oil shock.

Forbes

The U.S. has reached a peace deal with Iran, both President Donald Trump and Pakistani mediators said Sunday evening, with the president also announcing in a post on Truth Social an end to the U.S. blockade of the Strait of Hormuz, saying “Let the oil flow!”

Reuters

Oil prices slipped on Monday ‌after U.S. President Donald Trump and Iran's deputy foreign minister ⁠said they have reached a deal to halt the war and to resume traffic through ‌the ⁠Strait of Hormuz.

WSJ

Brent crude oil futures may fall to around $80 per barrel by year-end if Strait of Hormuz isn't closed again, CBA said.

CNBC

President Donald Trump said Sunday the Iran deal is "now complete." The Strait of Hormuz will reopen without a toll system and the U.S. will end its naval blockade of Iran, the president said.

Investopedia

A strong start to the week could be in store for financial markets after the U.S. and Iran reached a peace deal over the weekend.

Reuters

U.S. and Iranian officials said they had reached an agreement to end their war and reopen the Strait of Hormuz, a preliminary pact that sent oil prices falling but leaves the fate of Tehran's nuclear program to further negotiations.

Proactive Investors

UK oil majors fell sharply in early trading as crude prices tumbled on hopes that a US-Iran agreement will reopen the Strait of Hormuz and ease pressure on global energy supplies. BP PLC (LSE:BP.

Barrons

U.S. oil prices traded below $80 a barrel for the first time since March 10.

Reuters

U.S. energy shares fell in premarket trading on Monday as crude prices tumbled after Washington and Tehran reached an initial deal that could end the months-long conflict and reopen the vital Strait of Hormuz.

CNBC

Oil prices fell sharply on Monday as Iran and U.S. appeared poised to end their four-month war. Commodity strategists say oil price volatility will persist as energy markets grapple with a challenging recovery process.

Barrons

Oil prices are down and stock prices are up after President Trump announced an outline of a deal to end the Iran war.

24/7 Wall Street

Markets have spent much of 2026 wrestling with two competing forces: persistent inflation and growing signs of economic fatigue.

WSJ

Brent crude fell more than 4%, West Texas Intermediate futures were down 5% and European atural-gas prices also tumbled, with the European benchmark—down 5.3% on the news.

Bloomberg Markets and Finance

Oil fell after the US and Iran agreed to an interim deal to end their war, potentially allowing the Strait of Hormuz to reopen and easing a supply crunch that has rattled global energy markets. Bloomberg's Stephen Stapczynski reports.

The Guardian

Donald Trump posts ‘Let the oil flow' as US-Iran peace deal sparks immediate drop for Brent crude

The Guardian

Markets welcome US-Iran peace deal but prices may stay high as buyers race to refill depleted emergency crude stockpiles

FXEmpire

The oil markets are selling off, as traders celebrate the idea of a potential ceasefire agreement on Friday that could lead to greater peace in the Middle East. That being said, there are some details that look unlikely to be signed.

Market Watch

West Texas Intermediate and Brent crude fell after officials agreed to a 60-day ceasefire while final arrangements are being negotiated.

Schwab Network

Crude oil prices plunged near levels seen last June as the U.S. and Iran aim to sign a memorandum of understanding, leading to an immediate reopening of the Strait of Hormuz. Kevin Hincks explains how the headlines allow a risk-on trade to retake market momentum as stocks rally.

New York Post

Crude oil prices sank to their lowest levels in months following President Trump's announcement of an agreement with Iran to reopen the Strait of Hormuz.

Reuters

A framework agreement between the U.S. and Iran on terms to end their war and reopen the Strait of Hormuz sent oil prices tumbling, as traders anticipated the return of flows.

CNBC Television

Again Capital's John Kilduff discusses the longer-term impact of the deal to end the Iran war on energy prices, and timing for shipping through the Strait of Hormuz to return to normal levels.

Zacks Investment Research

Valero and Marathon could gain as a U.S.-Iran framework deal may reopen Hormuz, boosting oil supply, lowering crude costs and supporting refiners.

Barrons

Energy stocks are sliding following the announcement of a U.S.-Iran agreement. But some are more stable than others.

CNBC

Airline stocks are rallying Monday and the U.S. Global Jets ETF (JETS) is on the verge of a new high for the year.

Reuters

Citi on Monday cut its average Brent crude forecasts to $75 and $70 per barrel for the third and fourth quarters of 2026, respectively, citing expectations that the Strait of Hormuz trade flows ‌will resume and normalize after the U.S. and Iran approved a memorandum of understanding to end the war...

Market Watch

The U.S. and Iran have reached a tentative deal to extend their ceasefire by 60 days and reopen the Strait of Hormuz, but it will take an excess of global crude supplies and lower shipping costs for the market to see any semblance of normality.

CNBC

The U.S. Strategic Petroleum Reserve has fallen to the lowest level in more than 40 years, according to the Department of Energy. Oil executives have warned that global inventories are rapidly depleting due to the supply disruption triggered by the Iran war.

FXEmpire

The interim deal between U.S. and Iran will be signed in Switzerland on Friday.

Fox Business

Oil prices fell to lowest levels since early March after President Donald Trump announced a preliminary U.S.-Iran agreement aimed at ending the war and reopening Hormuz.

Bloomberg Markets and Finance

Bob McNally, president of Rapidan Energy Group, said that countries across the world are going to up their demand for oil to fill strategic reserves depleted by conflict in Iran and the closure of the Strait of Hormuz. McNally said that demand in Asian countries like China will be higher than before...

Reuters

Oil prices rebounded on Tuesday on concerns about the lack of details in a preliminary agreement ending the war between the U.S. and Iran and the realization the resumption of supply through the key Strait of Hormuz may take longer than ‌thought.

Fox Business

Lipow Oil Associates president Andy Lipow discusses the impact of the U.S.-Iran deal and the reopening of the Strait of Hormuz on oil prices on ‘The Claman Countdown.'

Fox Business

Former Energy Secretary Dan Brouillette discusses how a U.S.-Iran deal could impact energy markets and why enforcing a reopening of the Strait of Hormuz is critical on ‘Kudlow.'

CNBC

Global oil prices ticked lower on Tuesday as the Iran peace agreement dominated the G7 meeting in France.

WSJ

Investors seek further clarity on U.S.-Iran peace deal

WSJ

U.S. stock futures were flat and oil slipped in early European trade as investors awaited further details on terms of the U.S.-Iran peace deal.

Barrons

Brent crude and WTI prices were falling again as President Donald Trump said the Strait of Hormuz could reopen as soon as Friday.

Market Watch

Risks to oil price assumptions in the event of a finalized peace deal are two-sided but the Goldman Sachs report notes that the global economy adjusted very flexibly to the largest oil production shock in history

WSJ

Goldman Sachs and Morgan Stanley cut their oil-price forecasts with Persian Gulf flows expected to recover to prewar levels sooner than anticipated.

Reuters

Spot premiums for crude and some refined products in Asia have fallen back to pre-war levels following a U.S.-Iran deal to end the Middle East conflict, though caution about how soon normal shipping can ‌resume is providing a floor for oil markets.

The Guardian

Rolling coverage of the latest economic and financial news

FXEmpire

Oil prices remain under pressure after the preliminary US-Iran deal reduced part of the geopolitical risk premium, but slow shipping activity through the Strait of Hormuz keeps WTI and Brent near key support zones.

FXEmpire

The oil markets continue to see a lot of selling pressure, as the idea of peace allowing the flow of oil providing relief to the markets.

Reuters

The announced agreement between the United States and Iran ‌has brought down oil prices to somewhere between the European Central Bank's baseline and its mild scenario, ⁠chief economist Philip Lane said on Tuesday.

Schwab Network

A memorandum of understanding between the U.S. and Iran is moving toward a Friday signing. Kevin Hincks believes it will offer reprieve to markets concerned of heightened inflation, expecting crude oil prices to slide more once the Strait of Hormuz reopens.

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Jul 11, 2026

Oil Prices Drop as Trump Signals Iran Deal Could Be Near

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