After spending months pricing in tanker attacks, shut-in production, damaged LNG facilities, and the largest supply disruption in modern oil market history, traders are suddenly betting the crisis is ending.

Brent crude oil prices fell to their lowest levels since early March as traders grew more confident about an imminent peace agreement between the US and Iran.

Markets bet on renewed Iranian exports, sending WTI and Brent sharply lower

After weeks of turmoil that rattled energy markets, oil was trading around $80 per barrel mark on Tuesday as the Middle East chaos has shown signs of cooling down. However, the…