Oil Prices Drop as Iran Talks Break Ice

Oil prices plunged over 3% as Iran reopened key shipping lanes and resumed exports, sending Brent down to $77.90 and WTI to $74.82. U.S.-Iran talks in Switzerland paved the way for renewed oil sales through August, while U.S. inventories dropped sharply. Two tankers carrying 2 million barrels passed through the Strait of Hormuz, signaling recovery — though experts warn full supply restoration remains unlikely this year, with logistics driving initial gains rather than production. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/756fe06ed25627cd