Istanbul (Turkiye News) In Istanbul, oil prices in the global market recorded a significant decline on Sunday night following reports of a peace agreement between the United States and Iran ending hostilities.
Brent crude oil, which had been trading above $87 per barrel, fell below $84 after the news emerged, marking a decline of nearly 4 percent.
According to reports, the drop came after announcements of a deal between Washington and Tehran to end their conflict, with formal signing expected on Friday in Switzerland.
Pakistan’s Prime Minister Shehbaz Sharif announced on Monday morning that a peace agreement between the United States and Iran was reached after successful negotiations.
In a statement on social media, he said both sides had agreed to an immediate and permanent end to military operations on all fronts, including Lebanon.
According to the Prime Minister, the agreement became possible due to intense diplomatic efforts, and countries involved in mediation played an important role.
Energy experts say that the reduction in tensions in the Middle East has had an immediate impact on crude oil prices in the global market, with investors showing a cautious trend.
