Dutch International: Oil prices fall, influenced by signs of progress in US-Iran peace talks, despite still facing challenges.

Mediators from Qatar and Pakistan have said that the United States and Iran have agreed on a roadmap aimed at reaching a final agreement within 60 days, leading to a drop in oil prices. In early trading in the European market, Brent crude fell 2% to $78.94 per barrel, while the most actively traded August WTI crude contract fell 0.9% to $75.19 per barrel. Previously, oil prices had risen after US President Trump threatened Iran over its support for Hezbollah. Qatar and Pakistan have stated that Washington and Tehran have established a communication channel to ensure safe passage through the Strait of Hormuz; meanwhile, Iran's negotiator Hossein Ghorbanzadeh has hinted at progress in exempting Iranian oil sales sanctions and releasing frozen assets. Analysts from the Netherlands international group said, "Recent developments suggest that reaching a longer-term agreement will be challenging." They also stated, "The key question remains whether supplies of oil and liquefied natural gas from the Persian Gulf will continue to recover, despite various rhetoric."