Crude rises after US strikes on Iran dampen hopes of peace deal, with experts saying talks appear stuck in ‘endless loop’

Crude oil prices plunged over 5% as reports surfaced of the US and Iran nearing a Memorandum of Understanding, pushing Brent below $100 and WTI towards $90 a barrel.

Brent crude futures down 5.5% to lowest level in two weeks and stock markets rise