Oil Prices Edge Lower on Hopes of US-Iran Deal and Easing Regional Tensions
**London:** Global oil prices slipped slightly as optimism grew over a potential agreement between the United States and Iran, alongside signs of progress in ongoing negotiations involving Iran and Oman.
According to **Reuters**, investor expectations of easing tensions in the Middle East and a potential normalization of energy supplies weighed on crude oil prices in international markets.
Brent crude futures fell by **37 cents**, or approximately **0.5%**, to **$79.08 per barrel**, while US West Texas Intermediate (WTI) crude declined **53 cents**, or **0.7%**, to **$74.69 per barrel**.
The decline comes a day after Brent crude posted a modest gain, but renewed diplomatic optimism has improved investor confidence and reduced concerns over potential supply disruptions.
Market analysts said that a comprehensive agreement between Washington and Tehran could significantly ease months of geopolitical tensions, helping stabilize global energy supplies.
Investors are also hopeful that a potential deal could lead to the full restoration of commercial shipping through the **Strait of Hormuz**, easing concerns over global oil transportation through one of the world’s most important energy corridors.
Economists noted that crude oil prices in the coming days will largely depend on further diplomatic developments between the United States and Iran, the security situation in the Strait of Hormuz, and broader geopolitical conditions across the Middle East.
