Global oil prices have fallen below $80 USD per barrel, reaching a three-month low. The decline accelerated following reports of a potential agreement between the United States and Iran over the weekend. West Texas Intermediate (WTI) crude oil is currently trading at its lowest point in three months. The anticipated deal raises expectations of increased oil supply, easing concerns about potential shortages. A resolution between the two nations could lead to Iran re-entering the global oil market, adding to existing production. Market analysts are closely monitoring developments, anticipating further price fluctuations based on the deal’s final terms and implementation. This development impacts global energy markets and potentially consumer prices at the pump.