Analysts expect the interim deal between Iran and the US to release more than 85 million barrels of oil stranded in the Middle East Gulf into global markets.

BENGALURU/LONDON, June 19 : Brent crude fell on Friday after Israel and Hezbollah agreed to a ceasefire, easing concerns over disruptions to Middle East oil supplies and raising hopes of broader de-escalation involving the United States and Iran.Brent crude futures were down 85 cents, or 1.1 per cent, at $79

NEW DELHI, June 19 : Oil prices fell on Friday as prospects brightened for more supply after oil tankers began moving through the reopening Strait of Hormuz following a peace deal between the United States and Iran.By 0328 GMT, Brent crude futures fell 43 cents, or 0.54 per cent, to $79.42 a barrel and U.S. W

Oil prices drop as supply increases through the Strait of Hormuz following a U.S.-Iran peace pact, raising market concerns.

Oil tankers sailed through the Strait of Hormuz and the United States said it lifted its blockade on Iran on Thursday as an interim deal ‌to end the war took effect, though key issues are still unresolved between the two countries. Oil prices dropped to their lowest level since the…