Brent slips below $80 as Iran says it won oil export waivers after US talks in Switzerland

Oil prices fell after high-level US-Iran talks in Switzerland concluded and Iran said it had secured waivers for oil and petrochemical exports, raising expectations of higher crude flows. Brent futures slid 1.9% to $79.04 a barrel, while the more active August WTI contract dropped to $75.30. The UAE, Kuwait and Iraq also offered additional supplies, and Iraq said it plans to gradually restore output to 4.2 million to 4.3 million barrels per day. Shipping data showed a sharp drop in vessels transiting the Strait of Hormuz, though market focus shifted to potential supply additions.