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Oil prices fall after Trump signs deal to end Iran war

Brent crude fell 2.3 percent following a framework agreement between the U.S. and Iran to end the war. Stock markets in Taiwan, South Korea, and Japan climbed as the deal to reopen the Strait of Hormuz took effect. Negotiators have since met at a Swiss resort in Bürgenstock.

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What changed

New data confirms Brent crude dropped 2.3 percent and stock markets in Asia rallied.

Live updates

  1. Oil Prices Drop as US-Iran Deal Reopens Strait of Hormuz

    Brent crude fell 2.3 percent following a framework agreement between the U.S. and Iran to end the war. Stock markets in Taiwan, South Korea, and Japan climbed as the deal to reopen the Strait of Hormuz took effect. Negotiators have since met at a Swiss resort in Bürgenstock.

    What's confirmed:

    • Brent crude prices dropped 2.3 percent.
    • The U.S. and Iran signed a framework to end the war.
    • The agreement includes the immediate reopening of the Strait of Hormuz.
    • Stock indices in Japan, South Korea, and Taiwan rose.
    • Negotiators met at the Bürgenstock resort in Switzerland following a memorandum of understanding.

    Still unconfirmed:

    • Gas prices fell below $4.
    • More than 12 million barrels exited the Strait of Hormuz.
    • Pakistan announced the agreement to reopen the Strait of Hormuz would take effect immediately.
    confidence 90%

  2. Oil prices hit three-month low following US-Iran peace deal

    Brent crude prices dropped immediately after President Trump announced a deal with Iran. The agreement includes reopening the Strait of Hormuz. Markets rallied as a result of the breakthrough.

    What's confirmed:

    • President Trump announced an agreement with Iran to reopen the Strait of Hormuz.
    • Oil prices sank to their lowest levels in months following the announcement.

    Still unconfirmed:

    • Donald Trump posted "Let the oil flow" regarding the peace deal.
    • Talks between the White House and Iran scheduled for Friday were cancelled without explanation.
    confidence 90%

  3. Oil Prices Hit Three-Month Lows After US-Iran Peace Deal

    Oil prices dropped sharply following a preliminary agreement between the United States and Iran to end the war. The deal includes the reopening of the Strait of Hormuz and an end to the US blockade of Iranian ports. Gas prices in the US fell to $3.99 on Thursday.

    What's confirmed:

    • The United States and Iran reached an agreement to end the war and reopen the Strait of Hormuz.
    • Oil prices hit their lowest levels in more than three months.
    • WTI crude fell over 5% on Monday.
    • The average price of gas in the US was $3.99 on Thursday.
    • The agreement ends a US blockade of Iranian ports.

    Still unconfirmed:

    • The OPEC chief dismissed the IEA supply glut forecast.
    confidence 95%