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macroJun 15, 2026, 12:30 AM

WTI Crude Falls to Two-Month Low Near $79.40 on US-Iran Peace Deal

West Texas Intermediate crude dropped to a two-month low around $79.40 during early Asian trading on Monday, following reports of a US-Iran peace deal ending a nearly four-month conflict.

WTI

West Texas Intermediate (WTI) crude oil fell to a two-month low near $79.40 per barrel during early Asian hours on Monday, as news of a US-Iran peace deal weighed on prices. The agreement reportedly ends a nearly four-month-long confrontation between the two countries.

The drop marks a significant decline from recent levels, with crude now trading around $79.40, down from higher territory. Traders are pricing in the potential easing of geopolitical tensions that had previously supported oil prices.

No further details on the deal's terms or implementation timeline have been released, but the development is seen as bearish for crude in the short term. WTI remains sensitive to Middle East supply risks, and a durable peace could reduce the risk premium embedded in prices.

Source: FXStreet Forex News