Brent Falls on Iran Deal Optimism

2026-04-17 09:22 By Agna Gabriel 1 min. read

Brent crude futures slipped below $97 per barrel on Friday, retreating after a 4.7% gain in the prior session as President Donald Trump struck an optimistic tone about the chances of a lasting US-Iran ceasefire.

He said Tehran had agreed to key terms, including reopening the Strait of Hormuz, though Iran has not confirmed this.

Officials suggest a full deal could take up to six months, with calls to extend the current truce.

The conflict, nearing 50 days, has triggered a major supply shock, with Iranian restrictions and a US naval blockade keeping flows through Hormuz near a standstill.

Trump said a deal could come soon, but left room to extend talks if needed.

Meanwhile, a 10-day ceasefire between Israel and Lebanon may help ease regional tensions.

Disruptions have reshaped trade flows, with US crude exports surging to near-record levels as Europe and Asia seek alternatives, pushing the US close to net-exporter status for the first time since World War Two.



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Brent Falls on Iran Deal Optimism
Brent crude futures slipped below $97 per barrel on Friday, retreating after a 4.7% gain in the prior session as President Donald Trump struck an optimistic tone about the chances of a lasting US-Iran ceasefire. He said Tehran had agreed to key terms, including reopening the Strait of Hormuz, though Iran has not confirmed this. Officials suggest a full deal could take up to six months, with calls to extend the current truce. The conflict, nearing 50 days, has triggered a major supply shock, with Iranian restrictions and a US naval blockade keeping flows through Hormuz near a standstill. Trump said a deal could come soon, but left room to extend talks if needed. Meanwhile, a 10-day ceasefire between Israel and Lebanon may help ease regional tensions. Disruptions have reshaped trade flows, with US crude exports surging to near-record levels as Europe and Asia seek alternatives, pushing the US close to net-exporter status for the first time since World War Two.
2026-04-17
Brent Falls on Iran Deal Optimism
Brent crude futures slipped toward $98 per barrel on Friday, trimming gains from the previous session after US President Donald Trump voiced optimism about a possible agreement to end the conflict with Iran. He said Tehran had accepted terms that include abandoning ambitions for a nuclear weapon, providing “free oil,” and reopening the Strait of Hormuz, though Iranian authorities have yet to confirm the claims. Trump also announced a 10-day ceasefire between Israel and Lebanon, which was confirmed by Israeli Prime Minister Benjamin Netanyahu. Meanwhile, the Strait of Hormuz remains effectively closed due to a dual blockade by the US and Iran, keeping markets on edge over further disruptions to global energy flows. Meanwhile, IMF Executive Director Fatih Birol warned that restoring a meaningful portion of disrupted oil and gas output could take up to two years.
2026-04-16
Brent Crude Rises 4%
Brent crude futures rose by more 4% to above $99 per barrel on Thursday as doubts resurfaced over ongoing US–Iran negotiations. Reuters reported that the peace talks now point to diminished prospects for a broad agreement and opening of the Strait of Hormuz and are now focused on securing a temporary memorandum to avoid renewed conflict. Meanwhile, benchmark prices showed little immediate reaction after President Trump said Israeli and Lebanese leaders had agreed to begin a 10-day ceasefire starting Thursday. Further supporting prices, signs of tightening supply are emerging. After seven consecutive weeks of builds, US crude inventories fell by 9.13 million barrels last week, far exceeding analysts’ expectations for a 154,000-barrel increase, according to the US Energy Information Administration.
2026-04-16