The US Treasury Department has issued a temporary general license permitting the production, delivery, and sale of Iranian crude oil, petrochemicals, and petroleum products.
The 60-day authorization, announced on Monday, allows Iranian exports to resume while diplomatic talks continue, marking a significant shift in the administration's approach to energy sanctions.
Brent crude fell sharply in response to the news, as traders priced in the immediate return of Iranian supply to global markets.
The move alleviates concerns over potential supply disruptions that had been weighing on energy prices, providing a clear downward pressure on the benchmark.
WTI crude also softened, tracking the broader sentiment shift across the complex.
The license is part of an ongoing effort to balance geopolitical objectives with energy market stability.