{"id":2260,"date":"2026-06-18T04:38:12","date_gmt":"2026-06-18T04:38:12","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=2260"},"modified":"2026-06-18T04:38:12","modified_gmt":"2026-06-18T04:38:12","slug":"oil-slips-again-as-us-iran-sign-peace-deal","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=2260","title":{"rendered":"Oil slips again as US, Iran sign peace deal"},"content":{"rendered":"
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BEIJING, June 18 (Reuters) – Oil prices fell in early trading on Thursday after the U.S. and Iran signed an interim agreement that would end the Iran \u200bwar, reopen the Strait of Hormuz and waive U.S. sanctions on \u200cTehran’s oil, resolving the largest energy supply disruption in history.<\/div>\n
Brent crude futures were down 89 cents, or 1.12%, at $78.66 a barrel as of 0005 GMT, and U.S. West Texas Intermediate \u200bfell 98 cents, or 1.28%, to $75.81 a barrel.<\/div>\n
The benchmarks resumed their decline, \u200breversing gains made on Wednesday after U.S. President Donald Trump said \u2060he could resume his bombing campaign if Iran’s leaders “don’t behave”.<\/div>\n
“The sell-off extended as \u200benergy markets continued to aggressively price in a faster-than-expected return of Iranian barrels \u200bfollowing the recent U.S.-Iran memorandum of understanding,” IG market analyst Tony Sycamore said in a note.<\/div>\n
The 14-point memorandum begins a 60-day negotiation period during which Iran will allow toll-free passage through the \u200bStrait of Hormuz, a key oil and gas shipping lane. The deal \u200bcalls for traffic through the strait to be restored to its full capacity within 30 days.<\/div>\n
The \u200cpreliminary \u2060accord defers many of the more difficult issues such as Iran’s nuclear program, and also requires the U.S. and its partners to come up with a $300 billion plan to finance Iran’s recovery.<\/div>\n
If the agreement is successfully implemented and the strait \u200breopened, this year’s \u200bsupply crisis could \u2060turn into a significant supply glut in 2027, the IEA cautioned on Wednesday, forecasting in its monthly market report that supply \u200bwill outstrip demand by 5.05 million barrels per day next \u200byear as \u2060Middle East oil returns to the market.<\/div>\n
The U.S. Federal Reserve is also increasingly weighing whether it will need to raise interest rates later this year to rein in \u2060inflation, which \u200bcould slow economic growth and suppress oil demand.<\/div>\n
Nine \u200bof 19 Fed policymakers now think a rate hike will be needed, Wednesday projections showed, a departure \u200bfrom three months ago when none of them held that view.<\/div>\n<\/div>\n

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Oil prices fell in early trading on Thursday after the U.S. and Iran signed an interim agreement that would end the Iran \u200bwar, reopen the Strait of Hormuz and waive U.S. sanctions on \u200cTehran’s oil, resolving the largest energy supply disruption in history.<\/p>\n","protected":false},"author":1,"featured_media":2259,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[21,29],"class_list":["post-2260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-energy","tag-transport-fuels"],"yoast_head":"\nOil slips again as US, Iran sign peace deal - Reliable Moving Crews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reliablemovingcrews.com\/?p=2260\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil slips again as US, Iran sign peace deal - 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