Global oil prices fell sharply as uncertainty surrounding a potential agreement between Washington and Tehran heightened concerns about the economic impact of continued disruptions to shipping through the Strait of Hormuz.

Oil prices climbed on Friday as investors remained uncertain about the prospects of a breakthrough in ongoing US-Iran peace negotiations, while concerns over supply disruptions…

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.