Brent and WTI crude oil prices fell nearly 5% on US-Iran deal reports, easing supply fears. Bitcoin rallied toward $82K as risk assets benefited.

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.

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.