This is how Brent and WTI quotes are reacting to reports about the approaching peace deal between the United States and Iran. On May 24, American President Donald Trump said that the parties have almost agreed on a draft agreement, it remains only to approve it. As Axios wrote, the document provides for the extension of the ceasefire for another 60 days, the resumption of shipping through the Strait of Hormuz, as well as Washington’s lifting of the blockade on Tehran’s seaports.
The market reacted sharply to the statements that the parties have practically agreed and prepared for approval of the draft agreement. The consensus forecast of leading analysts points to a gradual decline in Brent oil prices in the second half of 2026 to a range of $75-$90 per barrel. World agencies and investment banks are divided into two camps – those who lay the fundamental surplus of raw materials, and those who take into account the consequences of the spring crisis in Europe.
