U.S.–Iran breakthrough pulls crude down nearly 7% below $80 a barrel, easing pressure on oil importers

A breakthrough in U.S.–Iran relations eased geopolitical tensions and pushed international crude prices down nearly 7% for the week, sliding below the $80-per-barrel mark. The move has reduced concerns about global inflation and potential energy supply disruptions. Lower oil prices are seen as supportive for major importers such as India, and markets are expected to keep watching further U.S.–Iran developments and oil price moves as key drivers.