Oil prices experienced a decline on Monday following the conclusion of diplomatic talks between the United States and Iran in Switzerland. During these discussions, Tehran reported that it had successfully secured waivers for its oil and petrochemical exports. This development has significantly reduced global market concerns regarding potential supply shortages. By easing restrictions on Iranian exports, the agreement helps stabilize the flow of energy products. Consequently, the market responded with a downward trend in pricing. The outcome reflects a temporary easing of geopolitical tensions affecting energy trade. These waivers are expected to maintain a steady supply of oil and petrochemicals in the international market.