Oil prices have declined following a US-Iran peace agreement that signals a potential recovery in Middle Eastern oil supply. Simultaneously, the IEA has downgraded its 2026 global oil demand outlook.
Key Takeaways
- 1.US-Iran peace agreement leads to oil price decline due to expected supply recovery.
- 2.IEA lowered 2026 global oil demand outlook by 1.1m b/d.
- 3.US crude inventories saw the largest draw since mid-February.
Table of Contents
- Energy – WTI moves below $75/bbl
- Metals – Gold rebounds despite hawkish Fed
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Authors
Ewa MantheyWarren Patterson
Securities
CL1CO1XAU
Themes
Geopolitical De-escalationEnergy Supply Normalization
Regions
Middle EastUnited StatesIran