Brent Plummets On Optimism Over US-Iran Deal. Forecast as of 17.06.2026

The most severe oil shock in recent history failed to push prices to record highs. Brent is rapidly retreating toward its pre-conflict levels, even though a formal agreement between the United States and Iran has yet to be signed. What is driving this remarkable turnaround in the oil market? Let's explore the key factors and develop a trading strategy.Major Takeaways Supply disruptions failed to push Brent to record highs. The TACO trade drove oil prices lower. The market will likely shift from