Oil prices dropped on Sunday after Trump announced a deal framework with Iran, with markets interpreting the news as a potential path to lifting sanctions and allowing Iranian barrels back into global supply. The Strait of Hormuz handles roughly 20% of global oil trade, and any reduction in closure risk is a meaningful supply-side positive. Stocks rose on the dual tailwind of lower energy input costs and reduced geopolitical risk premium.

The critical question is how durable this agreement proves to be — past Iran deal attempts have collapsed at implementation, and verification by the IAEA plus any required Congressional review could take months or fail entirely. Watch crude front-month futures for follow-through, Iranian oil-tanker tracker data, and whether the administration provides hard timelines on sanctions relief as the next concrete signals.