Global markets: Crude oil prices in the international market have dropped to their lowest level in three months amid continued decline following developments in the Iran–U.S. agreement.

Market data shows a sustained downward trend in oil prices over recent days, reflecting easing geopolitical tensions and expectations of improved supply stability.

According to reports, Brent crude oil fell by $3.20, bringing the price down to around $79 per barrel. Similarly, U.S. West Texas Intermediate (WTI) crude declined by $2.86, reaching approximately $77 per barrel.

In the Gulf region, UAE’s Murban crude is currently trading at around $72 per barrel.

Analysts say the decline comes after optimism in the market following progress in diplomatic engagement between Iran and the United States, which has reduced fears of supply disruptions in key energy routes.

The oil market had also recorded losses in the previous trading session, continuing a broader trend of volatility influenced by geopolitical developments and global demand forecasts.

Energy experts believe that if diplomatic stability continues in the region, oil prices may remain under pressure in the short term, although future movements will still depend on global economic conditions and production decisions by major oil-producing countries.