Oil prices drop broadly as a US-Iran peace deal is expected to unlock additional crude supply, intensifying concerns that global demand may not absorb the increased volumes. Bloomberg and Financial Post both describe a sharp reversal in prices, with declines occurring across major markets. The reports attribute the move to expectations that the agreement leads to reduced restrictions and a faster return of supply into the market. That potential supply increase is seen as outpacing current demand from buyers, which helps explain the renewed discussion of a possible “global glut” of crude. While the outlets focus on price weakness and the supply-demand imbalance implied by the deal, they do not provide detailed forecasts or specific production figures in the included text. Overall, both sources frame the latest price action as driven primarily by market expectations for incremental Iranian supply and the resulting risk that inventories could build if demand fails to keep pace.