[88081] Global oil prices drop following reports of a memorandum of understanding between Tehran and Washington

Decline in global oil prices following diplomatic developments

International markets recorded a decline in oil prices today, against the backdrop of reports regarding the signing of a memorandum of understanding between Iran and the United States. The IRNA news agency – a media outlet affiliated with the Iranian government – reported that following this diplomatic move, there was a decrease in the demand and price of a barrel of oil.

According to a report by IRNA, the price of a "Brent" barrel fell by 89 cents (about 1.12%) to a level of $78.66. At the same time, the price of "West Texas Intermediate" oil fell by 98 cents (about 1.28%) and traded at $75.81 per barrel.

The report was also confirmed by other sources, including the channel Pezeshkian Supporters, which is affiliated with supporters of the Iranian president, as well as the channel Khabari Plus, which noted that "after the announcement of the signing of a memorandum of understanding between Tehran and Washington", the price of oil plummeted to the level of 78 dollars and 66 cents.

As of the morning of June 18, 2026, the markets are reacting cautiously to this development, as the information comes from sources influenced by the government narrative in Iran that emphasizes the importance of agreements with the West.