Global oil prices fall to 3-month low as Pakistan cites US-Iran peace deal

Global oil prices have dropped to a three-month low following reports of a US-Iran peace deal. Pakistan PM Sharif confirmed that the text of the agreement has been settled. This mediation by Pakistan is expected to stabilize regional tensions and global oil supply, which may reduce inflationary pressures. Consequently, the deal is poised to significantly influence broader financial markets, global trade, and energy sectors by mitigating geopolitical instability between the two nations.