Oil Slides 9% on $20bn US-Iran Deal

Brent fell 8.9% to $90.54/barrel and WTI dropped 9.9% to $85.02/barrel on April 17, 2026.
Report says US‑Iran talks involve releasing $20 billion frozen Iranian funds for Iran to give up enriched uranium.
President Trump said the US and Iran are “very close” to a deal, with Iran agreeing not to possess nuclear weapons for 20+ years.
Closure of Strait of Hormuz has cut about 13 million barrels per day, fears and warnings of softer demand from IEA and OPEC.