Global oil prices experienced a sharp decline following a diplomatic breakthrough. The United States and Iran officially announced a peace agreement to end their months-long conflict. This sudden resolution of geopolitical tensions has significantly impacted the energy market. Investors reacted quickly to the news of stabilized relations between the two nations. The agreement aims to bring an end to the prolonged hostilities that had previously pressured oil supplies. Consequently, the market saw an immediate drop in crude prices. This development marks a significant shift in the geopolitical landscape of the Middle East. The price volatility reflects the direct link between regional stability and global energy costs.