21:49 - 8.07.2026

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July 8, Fineko/abc.az. A temporary agreement between the US and Iran to reopen the Strait of Hormuz has already triggered a more than 10% drop in oil prices within a week, putting Tehran's geopolitical leverage at risk.

According to The Wall Street Journal, major Wall Street banks are revising their forecasts downward, with Goldman Sachs expecting Persian Gulf exports to recover by the end of July — a month earlier than previously anticipated. Iran, which used the strait as a tool to pressure global prices during the conflict, risks losing this mechanism as the market demonstrates high resilience, absorbing a record shock of 14 million barrels per day with a smaller-than-expected deficit. Although analysts warn that risks of talks collapsing remain, the overall trend toward normalization is already evident.