Oil (WTI) Near Three-Month Low as Iran Deal Increases Supply

Oil prices remain near a three-month low due to expectations that a deal involving Iran will increase global supply. Recent forecasts suggest that Iranian oil exports could rise, potentially contributing an additional 1 million barrels per day to the market. This anticipated boost in supply is critical as it could impact pricing and trading volumes in the oil market. West Texas Intermediate (WTI) has shown volatility based on these developments, affecting various sectors tied to energy resources.