US oil prices dropped sharply as reports emerged of a US-Iran agreement nearing completion. Brent crude fell 6% to $105.02 while WTI slid to $98.26.

West Texas Intermediate dropped nearly 6% on Wednesday after Trump said negotiations with Tehran are nearly complete

Supertankers resume risky Hormuz transits after two-month Gulf delay

Brent crude futures rose $1.27, or 1.21 percent, to $106.29 a barrel

Oil prices saw a rise on Friday amid doubts about U.S.-Iran peace talks. Investors are concerned about Middle East instability and potential supply disruptions. Despite some…