Per Woofun AI data, WTI crude oil retreated below the $74 per barrel threshold, marking a 4.22% intraday decline, while Brent crude slipped under $77 per barrel, dropping 3.91%. This synchronized price compression reflects immediate market adjustments to evolving geopolitical risk premiums.

The downward pressure stems from constructive diplomatic engagements in Switzerland, where Iran committed to guaranteeing free passage through the Strait of Hormuz and granting access to International Atomic Energy Agency inspectors.

Concurrently, the U.S. Treasury Department deployed a 60-day temporary general license, explicitly authorizing the production, delivery, and sale of Iranian oil under the emerging framework agreement.