Iran-US Peace Deal: Cheaper Oil, Nuclear Inspections, and More
Major changes are expected in the region following the recent peace deal between Iran and the United States, which will have a direct impact on the economy and security. Global oil prices have returned to pre-war levels, while significant progress is underway regarding inspections of nuclear facilities and navigation rights in the Strait of Hormuz.
Inspections of nuclear facilities in Iran are set to resume, which is a key part of the preliminary peace agreement with the United States. The head of the UN nuclear agency has confirmed that inspectors will soon visit these sites. The agreement aims to end ongoing tensions in the region; however, Israel has currently refused to withdraw its troops from southern Lebanon, which could create some obstacles in the peace negotiations.
Ships passing through the Strait of Hormuz (the vital maritime route connecting the Persian Gulf to the Sea of Oman) may face new regulations. Iranian authorities claim they now have the right to collect fees or toll taxes from vessels passing through this route; however, US Secretary of State Marco Rubio has opposed this. The Iranian Revolutionary Guard has also issued a warning against any new alternative routes for shipping.
Crude oil prices in the global market have dropped to approximately $72.50 per barrel, returning to levels seen before the start of the war. This decrease is expected to lead to lower fuel and energy costs for general consumers. On the other hand, gold prices remain stable near $4,000, while the value of the dollar is rising as the inflation rate in the US has reached 3.4%.
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