Iran-US Extend Deal, Oil Prices Dip

The signal here is less about the size of the move than about the direction of causality: an extension of an existing arrangement, not a new one, was enough to pull crude lower, which suggests how much geopolitical risk premium had been baked into oil. For RWA and tokenized-commodity markets, that matters because oil-linked products tend to track these sentiment shifts closely. Whether the easing in supply concerns holds, or whether the extension proves temporary, is the open question worth watching.