Oil prices fall as Trump cites ‘deep talks’ with Iran

Photo by Jan Zakelj Oil prices fall as Trump cites ‘deep talks’ with Iran Crude oil all time high predictions Share Add us on Google by Estefano Gomez Jul. 28, 2026 Oil prices have decreased following U.S.

President Donald Trump’s remarks about “deep talks” with Iran, suggesting the potential easing of tensions between the two nations. This development appears to be reducing concerns over potential disruptions to crude oil supply, particularly around key shipping routes in the Middle East. Brent crude and West Texas Intermediate (WTI) have experienced declines, reflecting market participants’ expectations of lower geopolitical risk impacting oil prices.

The current pricing in prediction markets indicates a reduced likelihood of crude oil reaching a new all-time high by the end of September or December. The odds for crude oil hitting a record high by September 30 have slightly decreased to 5.8% from 6%, while the probability for December 31 has fallen from 14% to 12.

5%. These movements suggest that market participants view the ongoing U.S.

-Iran discussions as consistent with scenarios where oil prices may not experience significant upward pressure. Advertisement In the WTI Crude Oil market, the odds of reaching high price targets for July have also decreased, with the likelihood for WTI to reach $130 currently priced at 0.1% YES.

This decline indicates that market participants are factoring in the possibility of continued diplomatic progress between the U.S. and Iran, leading to stabilized or potentially lower oil prices.

Key Takeaways Market pricing suggests that recent U.S.-Iran talks are viewed as lowering the risk of crude supply disruptions.

The likelihood of crude oil reaching a new all-time high by September or December has decreased slightly, according to prediction markets. WTI Crude Oil price targets for July show diminished probabilities, consistent with ongoing diplomatic efforts between the U.S.

and Iran. What to Watch Watch for further developments in U.S.

-Iran negotiations, as positive diplomatic outcomes could continue to exert downward pressure on oil prices. Key actors such as the Iranian Supreme Leader and OPEC+ leadership may influence market perceptions with their statements or policy decisions. Additionally, announcements regarding the status of the Strait of Hormuz and potential changes in U.

S. sanctions could provide further indications of future oil market trends. Get live prediction-market analysis, powered by Vera.

Sign up for Vera. Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.

MACRO Oil prices fall as Trump cites ‘deep talks’ with Iran Crude oil all time high predictions by Estefano Gomez Jul. 28, 2026 Share Add us on Google Photo by Jan Zakelj Oil prices have decreased following U.S.

President Donald Trump’s remarks about “deep talks” with Iran, suggesting the potential easing of tensions between the two nations. This development appears to be reducing concerns over potential disruptions to crude oil supply, particularly around key shipping routes in the Middle East. Brent crude and West Texas Intermediate (WTI) have experienced declines, reflecting market participants’ expectations of lower geopolitical risk impacting oil prices.

The current pricing in prediction markets indicates a reduced likelihood of crude oil reaching a new all-time high by the end of September or December. The odds for crude oil hitting a record high by September 30 have slightly decreased to 5.8% from 6%, while the probability for December 31 has fallen from 14% to 12.

5%. These movements suggest that market participants view the ongoing U.S.

-Iran discussions as consistent with scenarios where oil prices may not experience significant upward pressure. Advertisement In the WTI Crude Oil market, the odds of reaching high price targets for July have also decreased, with the likelihood for WTI to reach $130 currently priced at 0.1% YES.

This decline indicates that market participants are factoring in the possibility of continued diplomatic progress between the U.S. and Iran, leading to stabilized or potentially lower oil prices.

Key Takeaways Market pricing suggests that recent U.S.-Iran talks are viewed as lowering the risk of crude supply disruptions.

The likelihood of crude oil reaching a new all-time high by September or December has decreased slightly, according to prediction markets. WTI Crude Oil price targets for July show diminished probabilities, consistent with ongoing diplomatic efforts between the U.S.

and Iran. What to Watch Watch for further developments in U.S.

-Iran negotiations, as positive diplomatic outcomes could continue to exert downward pressure on oil prices. Key actors such as the Iranian Supreme Leader and OPEC+ leadership may influence market perceptions with their statements or policy decisions. Additionally, announcements regarding the status of the Strait of Hormuz and potential changes in