Oil prices dropped Thursday as the International Energy Agency projected a supply surplus for next year, following a U.S.-Iran peace deal signed by President Trump.
IEA has flagged potential oversupply situation
Jun 18, 2026
11:14 am
What's the storyOil prices fell on Thursday after US President Donald Trump and his Iranian counterpart Masoud Pezeshkian signed a deal.
The deal is expected to end the long-standing conflict in the Middle East and significantly increase oil supply, leading to a potential oversupply situation next year.
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