{"id":2066,"date":"2026-06-18T07:30:59","date_gmt":"2026-06-18T07:30:59","guid":{"rendered":"https:\/\/newsraise.com\/index.php\/2026\/06\/18\/oil-prices-fall-on-supply-glut-forecast-us-iran-deal\/"},"modified":"2026-06-18T07:30:59","modified_gmt":"2026-06-18T07:30:59","slug":"oil-prices-fall-on-supply-glut-forecast-us-iran-deal","status":"publish","type":"post","link":"https:\/\/newsraise.com\/index.php\/2026\/06\/18\/oil-prices-fall-on-supply-glut-forecast-us-iran-deal\/","title":{"rendered":"Oil Prices Fall on Supply Glut Forecast, U.S.-Iran Deal Reports"},"content":{"rendered":"<p>Oil prices experienced a decline on Thursday, influenced by reports of a potential deal between the United States and Iran aimed at resolving the conflict in the Middle East. Simultaneously, the International Energy Agency (IEA) issued a forecast indicating a significant supply surplus expected in the coming year.<\/p>\n<p>International benchmark Brent crude futures for August saw a decrease of 2.83%, settling at $77.30 per barrel. U.S. West Texas Intermediate futures for July also fell, dropping 3.20% to $74.33 per barrel.<\/p>\n<h2>Supply Glut Forecasted by IEA<\/h2>\n<p>The International Energy Agency anticipates that a lasting resolution to the ongoing conflict could lead to substantially increased supply volumes, potentially creating a major oil overhang in 2027. According to the IEA&#8217;s latest monthly oil market report, global supply is projected to drop by an average of 3.9 million barrels per day in 2026, reaching 102.4 million barrels per day. This is followed by a recovery to 110.3 million barrels per day next year, before a significant overhang emerges in 2027.<\/p>\n<p>&#8220;Our first look at 2027 balances shows a significant overhang emerging next year,&#8221; the IEA stated in its report.<\/p>\n<h2>Market Reactions and Inflation Concerns<\/h2>\n<p>While lower oil prices could potentially mitigate the risk of energy costs contributing to broader inflation, market observers caution against complacency. A report from New York Life Investment Management noted that this situation does not represent &#8220;an all-clear.&#8221; The report highlighted that oil prices remain above pre-conflict levels, the normalization of shipping operations will require time, and both inventories and strategic reserves still need to be replenished.<\/p>\n<p>President Donald Trump reportedly indicated to reporters that he might resume attacks on Iran if the country failed to adhere to its commitments under any potential agreement. &#8220;We&#8217;re going to bomb the hell out of them if they violate the agreement,&#8221; Trump was quoted as saying at a press conference. &#8220;I don&#8217;t want them to. I want them to honor the agreement.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices declined Thursday amid reports of a U.S.-Iran deal and forecasts from the International Energy Agency predicting a supply glut next year.<\/p>\n","protected":false},"author":4,"featured_media":2067,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[2099,2097,1832,2098,2029],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Oil Prices Fall on Supply Glut Forecast, U.S.-Iran Deal Reports - News Raise<\/title>\n<meta name=\"description\" content=\"Oil prices dropped as the IEA warned of a supply glut in 2027, following reports of a potential U.S.-Iran deal to end Middle East conflict.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newsraise.com\/index.php\/2026\/06\/18\/oil-prices-fall-on-supply-glut-forecast-us-iran-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil Prices Fall on Supply Glut Forecast, U.S.-Iran Deal Reports - 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