WS #10596
WTI crude drops ~4.4% to ~$70 and Brent below $74 as US-Iran peace talks progress allows Strait of Hormuz tanker traffic to resume, with the oil market structure flipping bearish for the first time since February. Senate passes Iran War Powers Resolution 50-48; Trump says Iran agreed to IAEA inspections but Tehran denies access to damaged sites, keeping nuclear escalation risks unresolved.
Oil price crash on US-Iran deal progress
WTI crude drops ~4.4% to ~$70 and Brent below $74 as US-Iran peace talks progress allows Strait of Hormuz tanker traffic to resume, with the oil market structure flipping bearish for the first time since February.
Senate passes Iran War Powers Resolution 50-48; Trump says Iran agreed to IAEA inspections but Tehran denies access to damaged sites, keeping nuclear escalation risks unresolved.