Oil prices drop amid Iran's nuclear treaty commitment
Oil prices slid a bit after Iran reassured everyone it's sticking with the nuclear Non-Proliferation Treaty (NPT), lowering fears of conflict.
Brent crude dropped to $68.58 per barrel, and US West Texas Intermediate slipped to $66.88.
Key factors influencing oil prices
Iran's foreign minister made it clear they're still cooperating with international nuclear rules, even after some recent tensions.
Plus, the US is set to restart indirect nuclear talks with Iran next week—another sign things might cool off in the region.
OPEC+ also plans to pump out more oil in August, and while new US tariffs and sanctions are in place, their direct impact on oil prices is inferred rather than explicitly stated.
Why it matters
If you ever wonder why gas or travel costs change suddenly, this is part of the story—global politics and oil supply shifts can impact what you pay at the pump or for flights.
It's a reminder that international decisions can hit close to home, even if they seem far away at first glance.