The United States has suspended sanctions on Iran’s oil production, transportation, and sales for a period of 60 days, a move that immediately triggered a sharp sell-off in global energy markets.
The US Treasury Department announced the suspension on Monday, framing it as part of the implementation of a preliminary agreement.
This policy shift marks a significant reversal from weeks of aggressive measures targeting the country's energy exports.
Brent crude prices fell sharply in response to the news, as traders priced in the potential return of Iranian supply to the global market.
The sell-off reflected a rapid reassessment of supply risk premiums that had been embedded in energy valuations following earlier tensions.
The immediate market reaction underscores the sensitivity of oil prices to geopolitical developments in the Strait of Hormuz region.