Global crude oil prices recorded a decline after reports suggested that the United States and Iran could move toward a possible agreement, raising expectations of improved oil supplies in international markets.

According to market reports, the price of British crude oil dropped by 1 percent, bringing it down to $93 per barrel. American crude oil also recorded a 1 percent decline and settled at $88 per barrel.

However, Abu Dhabi’s Murban crude oil moved in the opposite direction and gained 4 percent in value. Its latest price was recorded at $94 per barrel, reflecting mixed trends in the global energy market.

Energy experts said investors are closely monitoring diplomatic developments between Washington and Tehran, as any agreement could impact sanctions on Iranian oil exports and reshape global supply levels.

Meanwhile, regional tensions escalated after Iran claimed it had shot down an American aircraft near Bushehr. The claim triggered massive public rallies in Tehran, where thousands of people gathered at Azadi Square in support of Iran’s armed forces and the Islamic Revolutionary Guard Corps (IRGC).

Protesters chanted slogans in favour of the military and praised the country’s leadership for standing firm against the United States. Celebrations and heightened security measures were also reported in several Iranian cities.

The US military, however, rejected Iran’s claim. US Central Command (CENTCOM) stated that no American aircraft had been destroyed near Bushehr and confirmed that all US air assets in the region remained secure.