Global Oil Prices Drop Amidst Potential Iran Deal and Fed Meeting Focus

New York. International market crude oil prices have fallen significantly with signs that Iran's oil could return to the global market. This has increased expectations of lower inflation and also decreased government bond yields. Investors' attention is currently focused on the first policy meeting of the new chairman of the US central bank Federal Reserve (Fed), Kevin Warsh.

The international benchmark Brent crude oil price fell below $80 per barrel on Wednesday. On Wednesday, oil prices fell to their lowest level since the start of the US-Iran conflict. At the ICE Exchange's Comex division in London, Brent came down to $78.22 per barrel. This is 0.94 percent less than the market closing on the previous day.