Oil prices rebounded due to concerns over a US-Iran peace deal and the restoration of supply. This was reported by Qazaqyia.kz citing Reuters.
Markets are focused on a potential peace deal between the US and Iran, which could ease sanctions on Iranian oil. Such a move could bring additional supply to the global oil market, putting pressure on prices. However, traders are skeptical about the exact terms and implementation of the deal, leading to a price rebound.