" Global financial markets experienced volatility on Thursday as renewed hopes for a US-Iran peace agreement led to a significant drop in oil prices, impacting investor sentiment and the South African rand.

Brent crude oil prices remain above $110 a barrel as geopolitical tensions between the US and Iran escalate, impacting global markets and currencies.

Oil prices tick higher after a sharp selloff on US-Iran deal optimism. Brent and WTI whipsaw as Strait of Hormuz blockade fears dominate crude markets.