Oil prices fall amid mixed signals on US-Iran peace deal
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- Brent crude fell about 5% on Sunday, trading at $98.47 a barrel, down roughly 9% from a month earlier.
- Trump posted on Truth Social that negotiations with Tehran were “orderly and constructive,” and that the U.S. blockade of Iranian ports will stay in full force until a certified agreement is signed.
- Iran has blockaded the Strait of Hormuz since late February, shutting in 10‑11 million barrels per day of crude oil.
- Analyst June Goh (Sparta) said markets expect a release of about 100 million barrels of stranded crude once a deal is reached, but full restoration could take three to six months.
- Japan’s Nikkei 225 surged more than 3% in morning trading, hitting an all‑time high after a record‑peak close on Friday.
Why it matters: Oil importers gain from a ~5% price drop (~$5‑$6 per barrel), while producers and shipping firms lose revenue as the Strait of Hormuz stays blocked, keeping supply risk high.
