Iran-US Negotiations Lead to Released Assets and Falling Global Oil Prices

Pakistan News Desk June 22, 2026

First Published 2 days ago

🔴 Live Update 7 hours ago24 Updates by 15 sources

Updated: 2:49 AM PKT — June 23, 2026

Global oil prices have decreased following negotiations between the United States and Iran. According to international media reports, US crude oil fell by $1.96 to $73.89 per barrel, while Brent crude dropped by $2.62 to $77.95 per barrel.

Separately, Arab media reported that Saudi Arabia’s crude oil exports fell to 3.99 million barrels per day in April 2026, the lowest level since 2002. This represents a decrease of nearly one million barrels per day from March. Experts suggest the decline in exports may be linked to global market demand, OPEC+ policies, and voluntary production cuts.

Latest Updates

Updated: 11:24 AM PKT — June 24, 2026

Reports on Wednesday suggest that a major breakthrough in the US-Iran deal has led to expectations that global oil prices are set to fall further.

Updated: 10:11 AM PKT — June 24, 2026

Global crude oil prices have continued their downward trend, sliding by an additional 2% in the international market. The ongoing reduction in prices has been linked to a potential deal between the United States and Iran.

Updated: 7:56 AM PKT — June 24, 2026

Global oil prices fell on Wednesday, trading near four-month lows on expectations of smoother crude flows through the Strait of Hormuz. As of 0043 GMT, Brent crude futures were down 0.5% at $76.71 a barrel, while U.S. West Texas Intermediate (WTI) slipped 0.5% to $72.85 a barrel. Both benchmarks had touched their lowest levels since early March on Tuesday.

The decline comes amid signs that more oil tankers stranded in the Gulf are set to move out of the Strait of Hormuz. Prices have also been pressured by easing US-Iran tensions after Washington granted Tehran a 60-day sanctions waiver, allowing it to sell oil.

On Tuesday, Oman and Iran agreed to continue discussions on the future administration of navigation in the strait. However, uncertainty remains over a broader accord, with Washington and Tehran giving conflicting reports on concessions related to nuclear inspections.

Updated: 5:12 AM PKT — June 24, 2026

Global crude oil prices have fallen by 2% in the international market, according to reports on June 23.

Posted: just now

Global oil prices declined on Monday after Iran’s Foreign Minister, Abbas Araghchi, announced that the country had secured waivers for its oil and petrochemical exports as part of the agreement reached with the United States in Switzerland.

Mr. Araghchi also stated that a naval blockade had been lifted and some of Iran’s frozen assets would be released. Following the news, Brent crude fell to around $78.89 a barrel, while US West Texas Intermediate (WTI) crude was trading at approximately $76 a barrel.

Market analysts suggest the development could allow nearly 1.5 million barrels per day of Iranian crude to return to international markets, which would significantly ease global supply concerns.

An agreement has been finalised for the release of $12 billion in assets, a significant development in ongoing international negotiations.

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