Oil prices experienced a four percent decrease overnight following news of a peace agreement reached between Iran and the United States. The decline suggests expectations of increased oil supply entering the global market, as potential sanctions impacting Iranian oil exports may be lifted or eased. This agreement follows a period of heightened geopolitical tension and uncertainty surrounding Iranian oil production. Analysts predict the price drop could continue as the details of the agreement become clearer and its impact on oil output is assessed. The immediate reaction in commodity markets indicates investor concerns about potential oversupply. Further monitoring of the agreement’s implementation and its effect on global oil dynamics is expected. The fall in price impacts both producers and consumers of oil worldwide.