The United States has temporarily suspended sanctions on Iranian crude oil exports, granting a waiver that remains in effect until August 21.
The US Treasury Department published the authorization, signaling a tangible shift in policy as negotiations between Washington and Tehran advance.
This development marks a concrete step toward normalizing trade flows that have been constrained for years, directly impacting global supply calculations.
Crude oil prices retreated in the session following the announcement.
The market reaction reflects a rapid repricing of supply risk, as traders factor in the potential return of Iranian barrels to the global market.
The immediate sell-off underscores how heavily the premium for geopolitical risk has been embedded in current valuations.