Global oil prices hit three-month low after Iran-US agreement

Global crude oil prices fell to their lowest level in three months, extending losses in international markets following the Iran-U.S. agreement.

Brent crude, the international benchmark, dropped by $3.20 per barrel to $79 per barrel.

U.S. West Texas Intermediate (WTI) crude also declined, falling $2.86 to $77 per barrel. Meanwhile, UAE Murban crude was trading at $72 per barrel.

The decline continues a downward trend seen in recent trading sessions, with oil prices also posting losses a day earlier amid expectations of improved supply flows and reduced geopolitical tensions.