Crude Oil At $70? How A US-Iran Peace Deal Could Drop Prices

If the US and Iran sign a peace deal, crude oil prices could dip to $70 per barrel by September, analysts say. After the Strait of Hormuz reopens, Brent may average $100–110 in May–July, fall to $80 in August, then $70. However, weak Chinese demand and volatile geopolitics add uncertainty to forecasts.