Oil Steadies as Iran Sales Waiver Signals Peace Talks Progress

Bloomberg · last updated June 23, 2026 – 12:42 AM

Oil extended declines on signs of progress toward an agreement to end the Iran war, which included a US waiver allowing some sales of crude and fuels from the Islamic Republic.

Brent crude slid toward $77 a barrel after falling 3.3% on Monday, the biggest drop in almost a week, while West Texas Intermediate was near $73. The 60-day license permits the sale of some Iranian oil and petroleum products, citing “productive talks” in Switzerland, offering Tehran an economic lifeline.

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