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A huge relief news has emerged from the point of view of the Global Energy Market and the international economy. An interim agreement (MoU) has been signed between the US and Iran with the aim of ending the war, reopening the strategically important Strait of Hormuz and relaxing US sanctions on Iranian oil exports.
This historic peace agreement has completely removed the largest and most catastrophic disruption to global energy supplies in recent history. During the initial trading session on Thursday, June 18, 2026, a huge fall in the prices of crude oil was recorded in the international market, due to which importing countries around the world including India have heaved a sigh of relief.
Latest prices of crude oil in international market
As news of the peace deal became public, both major global crude oil benchmark indices saw sharp declines and completely lost their previous gains recorded on Wednesday:
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Brent Crude Futures: Brent crude considered the international standard Decline of 89 cents or 1.12% with $78.66 per barrel But it has arrived.
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WTI Crude Futures (West Texas Intermediate): American crude benchmark also Falling 98 cents or 1.28% to $75.81 a barrel Is trading at Rs.
Earlier on Wednesday, US President Donald Trump (Donald Trump) led to a mild rise in markets after a tough statement by President Trump in which he warned that US military strikes could resume if Iran’s leadership “does not act properly”. But after the last diplomatic success, the market sentiment has completely improved.
3 main conditions of peace agreement: 30 days deadline on Hormuz Strait
This agreement agreed between America and Iran 14-point historical memorandum Under this, the official negotiation time (window) of the next 60 days has started. Following are the main points of this deal:
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Toll-free transit allowed: Iran has agreed to allow completely toll-free transit for all international ships through the Strait of Hormuz, the main sea route for global oil and natural gas (LNG).
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Full operational capacity in 30 days: According to the terms of the agreement, commercial vessel traffic through the Strait of Hormuz should return to its 100% operating capacity within the next 30 days.
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$300 billion economic package: Although in this initial deal, controversial and sensitive issues like Iran’s nuclear program are still unresolved, but in return, America and its allies have agreed to deal with Iran’s crippled economy. $300 billion funding package An appeal has been made to make.
IEA’s warning: There may be a flood of ‘supply surplus’ in the market by 2027
According to a recent report by Reuters, the International Energy Agency (IEA) has presented the world with a new economic equation in its Monthly Market Outlook on Wednesday:
Surplus of 5.05 million barrels: The IEA has warned that if this peace agreement is fully implemented on the ground and the Strait of Hormuz opens regularly, the current huge global oil shortage will very soon turn into a ‘supply surplus’. The agency estimates that when Middle East crude returns to the international market at full capacity next year (by 2027), the daily supply of oil around the world could exceed its total demand by 5.05 million barrels per day, which could lead to an even bigger recession in crude oil prices.
On the other hand: There is a possibility of reduction in oil demand due to US Fed’s strictness.
Not only the peace agreement, but the policies of the US central bank Federal Reserve (US Fed) are also indirectly putting pressure on bringing down the prices of crude oil.
The Federal Reserve is aggressively considering the possibility of increasing interest rates to control inflationary pressure in the US by the end of this year. According to quarterly estimates released on Wednesday, nine of the Fed’s 19 policymakers now support the need for a rate hike, whereas three months ago none were in favor of it. If interest rates increase in America, industrial and economic activities there may slow down, due to which there is a possibility of a huge decline in global demand for fuel and crude oil in the coming time.