Brent crude falls below $99 as Trump signals U.S.-Iran Hormuz deal; Bitcoin holds $77K through Memorial Day weekend. Full market breakdown.

Global crude benchmark Brent fell as much as 5.2% to $98.12 a barrel, while West Texas Intermediate was near $92.

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.