Brent Oil Tumbles to Three-Month Low on US-Iran Peace Deal Optimism
Brent crude oil fell to its lowest in over three months on Monday, opening with a gap lower amid renewed optimism that a US-Iran peace deal could be reached.
BRENT
Brent oil prices opened with a gap lower on Monday, dropping to their weakest level in more than three months. The decline was driven by a fresh wave of optimism surrounding a potential peace deal between the US and Iran.
A resolution to the long-standing tensions could increase global oil supply, reducing the risk premium that had supported prices. As a result, bearish sentiment has taken hold, pushing Brent to multi-month lows.
Source: FXStreet Forex News