As per the ceasefire agreement between the US and Iran finalized on Sunday, around $24 billion in Iranian sovereign assets that were previously frozen due to US and international sanctions will be released — with half being made available before official nuclear discussions commence, according to reports from Iranian state media referencing the Mehr news agency. Additionally, Iran will now have the opportunity to sell oil on global markets without restrictions for the first time since the onset of the conflict, with US sanctions being waived for crude exports. Energy experts suggest that the combination of the Strait reopening, the return of Iranian oil to the markets, and the easing of sanctions could lead to a decrease in US gasoline prices by approximately 20 to 50 cents per gallon within the next 30 to 60 days, contingent on how swiftly Iranian oil production resumes.
