Oil prices retreated after the latest round of negotiations between the United States and Iran concluded in Switzerland, fueling expectations that additional Iranian crude could eventually return to the international market

The agreement to reopen the Strait of Hormuz has brought swift relief to global markets. However, some traders fear that the stock market rally and the decline in oil prices may have gone too far

Goldman Sachs said in a note that global oil demand has fallen more sharply than expected, creating both upside and downside risks to its fourth-quarter 2026 Brent crude forecast of $90 per barrel and its WTI forecast of $83 per barrel

Oil ​prices fell 4% after U.S. President Donald Trump said that negotiations with Iran were in the final ‌stages, though investors remain wary about the outcome of peace talks as disruption to Middle Eastern supply continues

Oil prices are likely to fall this year as a wave of supply creates a surplus in the market, although geopolitical risks linked to Russia, Venezuela and Iran will continue to fuel volatility, Goldman Sachs said

Oil prices fell by about 2% ahead of a weekend meeting of OPEC+ producers that is expected to consider another increase in production targets in October

Oil prices declined for a third consecutive session on concerns the brewing trade war between major crude consumers the United States and the European Union will curb fuel demand growth by reducing economic activity

Oil prices traded slightly lower as investors largely stayed on the sidelines ahead of a highly anticipated OPEC+ meeting that could offer key signals about future supply levels

Oil prices extended losses during Asian trading and were headed for weekly declines due to renewed concerns over oversupply following a report that OPEC+ may be considering another production hike

Given the weak growth outlook amid a global trade war, the bank expects that oil demand will rise by only 300,000 bpd between the end of last year and the end of 2025