#OilSlidesOnMiddleEastPeaceDealProspects Oil prices moved lower as markets reacted positively to growing expectations of a potential peace agreement in the Middle East. Reports suggesting progress in negotiations between the United States and Iran reduced concerns about supply disruptions, leading investors to scale back the geopolitical risk premium in crude oil prices. Brent and WTI crude both recorded notable declines as traders anticipated a possible reopening of key energy routes, including the Strait of Hormuz. Lower oil prices boosted risk sentiment across global markets, supporting equities and easing inflation concerns. However, uncertainty remains, as officials have not yet confirmed a final agreement. Market participants will continue monitoring diplomatic developments closely, as any setback in negotiations could quickly reverse the recent decline in oil prices.