Global oil prices have fallen below the $80-per-barrel mark following the announcement of an agreement between the United States and Iran, reversing gains recorded during recent regional tensions.
Current prices have returned to levels seen in early March, before US and Israeli strikes against Iran contributed to market uncertainty and pushed energy prices higher.
Brent and WTI see sharp declines
Brent crude is currently trading at around $77 per barrel, recording a daily decline of 2.15%.
On a weekly basis, Brent prices have fallen by approximately 14%, while monthly figures show a drop of around 30%. Current levels are similar to those recorded on 4 March 2026.
US benchmark West Texas Intermediate (WTI) crude is trading at approximately $75 per barrel.
WTI has dropped by 2.5% over the day, nearly 15% over the past week and 28% on a monthly basis, returning to levels last seen on 2 March 2026.
The continued oil prices fall reflects investor expectations that easing tensions between Washington and Tehran could reduce risks to global supply chains and energy markets.
Natural gas prices also decline
European natural gas prices also moved lower.
The Dutch TTF benchmark fell by 4.4% on a daily basis to €40.11 per megawatt-hour.
Weekly prices dropped by 19%, while monthly figures showed a decline of 22.5%.
The latest oil prices fall and broader energy market movement suggest that geopolitical developments continue to have a major influence on commodity trading and investor sentiment.
Source: CNA
Also read: Possible Iran-US talks in Switzerland on Friday
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