Brent crude oil falls by up to 6% in the face of a possible non-aggression pact between Washington and Tehran

Published at: 06/05/2026 09:14 AM

The price of Brent crude oil for delivery in July registered a drop of up to 6% this Wednesday, standing at $103.75 per barrel after reports of a possible agreement between the United States (USA) and the Islamic Republic of Iran.

Expectations surrounding an unofficial “memorandum of understanding”, aimed at reducing confrontations in the Middle East and establishing a framework for nuclear negotiations, prompted the decline in reference crude oil in Europe, which reached 102.52 dollars during the day.

The downward trend extended to other global energy indicators, with Texas intermediate oil (WTI) falling by 7.20% to 95.19 dollars, while TTF natural gas in Europe fell by 8.29% to 43.12 euros per megawatt hour.

These fluctuations respond to the volatility that markets have maintained since February, reacting to constant warnings and geopolitical tensions between the two nations that have directly affected fuel costs and stock values.

The shift in negotiations gained strength after President Donald Trump's announcement of the suspension of the “Freedom Project”, an initiative that contemplated the escort of commercial ships through the Strait of Hormuz under Iranian jurisdiction.

According to the president, the decision to stop this operation was taken by mutual agreement, clearing the way for a truce that seeks to end direct hostilities in the region and stabilize maritime trade flow.

This diplomatic approach, initially managed through exchanges on digital channels and social networks, marks a turning point in Washington's foreign policy towards Tehran.

Although the details of the one-page document are still considered preliminary, the energy market has reacted quickly to the possibility of sanctions relief or an increase in the supply of crude oil, factors that could reconfigure the international price scenario in the short term.

Mazo News Team