Oil and Geopolitical Crisis
Key Questions
What is the current status of the US-Iran deal?
The deal officially took effect on June 18, including sanctions waivers and the reopening of the Strait of Hormuz.
How has the Iran deal impacted oil prices?
Oil prices crashed further below $90, easing energy-driven inflation fears and reducing rate hike pressure.
What are the market implications of the Iran deal?
The deal is viewed as a major tailwind for equities, with markets pricing in a resolution to the tensions.
Oil has moved back toward roughly $95 in some reports as Strait of Hormuz incidents, failed U.S.-Iran talks, possible sanctions, and threats to energy transit keep supply risks elevated. U.S.-Canada tariff tensions and possible Chinese retaliation add further risks to inflation, shipping, supply chains, and market sentiment.
Sources (4)
Updated Sep 4, 2026