Live: ASX to slip, oil plunges to 3-month low on reports US to scale back Iran sanctions

Oil prices have dropped to their lowest level in three months due to news that the US is set to ease sanctions on Iran, allowing it to resume oil exports. This development has caused significant declines in oil prices, which in turn is likely to result in a lower opening for the Australian share market following substantial losses in Wall Street's tech stocks. This shift in oil prices and market dynamics reflects broader geopolitical and economic changes that could have lasting implications for global markets and energy policies.