Oil Holds Near Three-Month Low as Iran Deal Seen Boosting Supply

Oil prices hovered close to a three-month low due to anticipation that a potential US-Iran deal allowing the reopening of the Strait of Hormuz could significantly increase global oil supply. This development underscores the delicate balance between geopolitical events and market dynamics, highlighting how international relations can directly impact energy prices. The situation reflects broader concerns about supply disruptions and the global economy's sensitivity to such shifts, making it crucial for stakeholders to monitor international agreements closely.