Brent crude oil price retreated on Hyperliquid as the US and Iran moved closer to extending the ceasefire by 60 days.

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.

Crude oil prices dipped to $102 as the US awaits Iran's response to a peace proposal, potentially ending the conflict and impacting global fuel prices.

Analysts urge caution as US and Iran remain divided on key issues