Oil prices fell sharply as traders priced in growing hopes that a U.S.-Iran deal could reopen the Strait of Hormuz and ease the global supply shock.

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…

Oil prices rose as traders grew skeptical that U.S.-Iran talks would quickly reopen the Strait of Hormuz and ease the global supply shock.