Oil drops about 4% to three-month low as markets weigh US-Iran deal — Live Feedhttps://www.live-feeds.com/feed/oil-drops-about-4-to-three-month-low-as-markets-weigh-us-iran-dealContinuously updated, source-cited coverage. Oil plunges 4% to three-month low as US-Iran deal sparks supply fearshttps://www.live-feeds.com/feed/oil-drops-about-4-to-three-month-low-as-markets-weigh-us-iran-dealhttps://www.live-feeds.com/feed/oil-drops-about-4-to-three-month-low-as-markets-weigh-us-iran-deal#u1960Wed, 17 Jun 2026 00:52:19 +0000Crude prices hit their lowest point since March after reports of a US-Iran agreement to end the blockade of Iranian ports and reopen the Strait of Hormuz. Markets now anticipate a return of Iranian oil supply, though traders remain cautious about the pace and details of the deal. Weak physical demand and limited agreement text have also weighed on prices, pushing Brent crude below $80 a barrel. Tanker operators signal skepticism about immediate resumption of Hormuz transit.What's confirmed:Oil prices fell about 4% on Tuesday to three-month lows, with Brent crude futures dropping to $79.97 a ba