Brent Futures Drop to $72 After US-Iran Deal Waives Oil Sanctions
Updated
Updated · The Economist · Jul 26
Brent Futures Drop to $72 After US-Iran Deal Waives Oil Sanctions
2 articles · Updated · The Economist · Jul 26
Summary
$72 a barrel marked Brent's return to its pre-war level after a June US-Iran deal allowed Iranian oil exports in exchange for safe passage through the Strait of Hormuz.
A rush of tankers leaving the Gulf created a short-lived mini-glut, pushing the international benchmark lower even as the Iran war's bombing campaign paused.
That price drop masks a fragile supply picture, with energy markets still on edge because flows through Hormuz remain central to global oil security.