Oil prices have plummeted to their lowest point in over two years, with Brent crude experiencing its biggest monthly decline since 2020. The sudden drop has sparked widespread concern among energy experts, who are attributing the downturn to a potential breakthrough in nuclear talks between the United States and Iran. Sources close to the negotiations suggest that a deal may be imminent, which could lead to a significant increase in Iran's oil exports and put downward pressure on global prices. As the world waits with bated breath for an official announcement, investors are bracing themselves for a potential flood of Iranian crude onto the global market, further exacerbating the oil price slump.
Biggest monthly decline in Brent crude since 2020 comes amid signs US and Iran could be close to a deal
