WS #10597
WTI crude drops below $70/barrel, Brent below $74, as US-Iran peace talks progress allows tankers to resume crossing Strait of Hormuz, with oil market structure flipping bearish for first time since February. Senate passes Iran War Powers Resolution 50-48; Trump claims Iran agreed to IAEA inspections but Tehran says damaged sites remain closed, adding geopolitical uncertainty.
Oil Price Collapse on US-Iran Deal Progress
WTI crude drops below $70/barrel, Brent below $74, as US-Iran peace talks progress allows tankers to resume crossing Strait of Hormuz, with oil market structure flipping bearish for first time since February.
Senate passes Iran War Powers Resolution 50-48; Trump claims Iran agreed to IAEA inspections but Tehran says damaged sites remain closed, adding geopolitical uncertainty.