Oil prices fall after Iranian report of possible U.S. sanctions waiver

Oil prices slipped on Monday after an Iranian media report said the United States had accepted a temporary waiver of sanctions on Iranian crude during negotiations, a claim that quickly moved markets.

Reuters reported that Brent crude fell after touching its highest level since May 5, while West Texas Intermediate also eased after reaching its strongest level since April 30. A separate Reuters market report said the news also pressured the dollar and lifted other markets.

The report cited Tasnim, an Iranian outlet, as saying the Americans had accepted language that would waive Iran’s oil sanctions during the negotiation period. That account was not independently confirmed in the reporting reviewed for this article.

U.S. Treasury statements released in recent weeks have continued to show the administration publicly maintaining pressure on Iran’s oil trade. Treasury has warned of sanctions risks tied to Iranian crude flows and said it is targeting the network that helps generate and move oil revenue.

The market reaction leaves two key questions open: whether Washington has actually agreed to any temporary relief, and whether officials will publicly confirm, deny or clarify the reported terms. For now, traders appear to be responding to the possibility of a shift in U.S.-Iran negotiations rather than a confirmed policy change.