Brent crude falls 7.5% to $90.94 on US-Iran nuclear progress

The move is a geopolitical risk premium unwinding in crude, with the scale of the single-session drop implying markets had priced in a meaningful supply-disruption scenario around Iran. The divergence matters more than the headline: silver rising while oil sells off suggests the bid is rotating toward precious metals rather than a broad commodity de-risking, which points to positioning and haven demand rather than a growth signal. Whether Brent holds the $90 area or the risk premium rebuilds on any reversal in talks is the open question, and silver's move against oil is the spread worth watching.