America-Iran signed peace agreement, crude oil market fell drastically! Will petrol and diesel become cheaper in India also?

Crude Oil Prices Drop: After the war that has been going on for several months in the Gulf countries, a big news has come to light. A peace agreement has been announced between America and Iran, ending the war after 107 days. This announcement has mainly affected the prices of crude oil. After the peace agreement between America and Iran, a decline of more than 4 percent has been recorded in crude oil.

Now the speculations about stoppage of oil supply have finally come to an end. Due to this, there has been a big decline in the international oil market. In such a situation, the question is now arising whether its effect will be visible in India also. Will we see a decline in the prices of petrol and diesel in India?

The oil market fell sharply after the announcement of the end of the war.

The price of West Texas Intermediate (WTI) crude fell 4.39 percent to $ 81.15 per barrel. Brent crude futures fell nearly 4 percent to below the $84 mark, down from levels above $87 a barrel. The decline comes as Pakistan announced that the US and Iran have reached an agreement to end hostilities and stop military action on all fronts.

Asian stock markets have also seen a rise due to the news of oil becoming cheaper as soon as the war ends. Investors hope that cheap crude oil will reduce the pressure on inflation and provide relief to the global economy.

Donald Trump congratulated

US President Donald Trump posted on Truth Social, ‘This great deal will bring peace and security to the entire region. Many presidents have tried to make peace with Iran, and all before me failed. For the first time, the leaders of the region have got a President who can help them achieve real peace. The deal signed on Friday will restart oil supplies from both sides to the region and the world, with the opening of the strait and the removal of mines.”

On Truth Social, US President Donald Trump posts, "The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously hereinwith, authorize the immediate removal of the… pic.twitter.com/fPLg91aBTy

— ANI (@ANI) June 14, 2026

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US President Donald Trump posted on Truth Social, ‘The deal with the Islamic Republic of Iran is now complete. Greetings to all. I give full permission to open the Strait of Hormuz without any tolls, and also order the immediate lifting of the US Naval blockade. Ships around the world, start your engines. Let the oil flow.”