Oil prices fell as traders focused on hopes for a U.S.-Iran deal despite continued hostilities, tight inventories, and the effective closure of the Strait of Hormuz.

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

The strait – which links the region to world markets – has been subject to a double blockade, with curbs imposed by both Iran and the US.

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 have dropped significantly as markets react to potential peace talks between the United States and Iran. Asian stock markets saw early gains on Monday. President Donald…

Global oil prices fell sharply as uncertainty surrounding a potential agreement between Washington and Tehran heightened concerns about the economic impact of continued…

Brent crude dropped as much as 5.1 per cent to US$98.22 a barrel. Read more at straitstimes.com. Read more at straitstimes.com.

Oil prices dipped to two-week lows as U.S.-Iran peace talks showed progress, potentially reopening the vital Strait of Hormuz. Despite optimism, significant hurdles remain, with…

Oil prices tumbled over 5% on Monday, falling below the $100 per barrel mark, buoyed by optimism over a potential agreement aimed at ending the US-Iran war. The market reaction…

Oil prices fell and Asian stocks climbed on Monday over hopes a deal between the United States and Iran to open the Strait of Hormuz could be brokered.The price of North Sea Brent…

Crude oil futures dip amid cautious market response to US-Iran deal negotiations, signaling potential impact on global oil supply.

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

Oil prices slipped more than $5 to two-week lows on Monday, as optimism grew that the United States and Iran were moving closer to a peace deal,...

Oil prices slipped nearly 6% to two-week lows on Monday, as optimism grew that the United States and Iran were moving closer to a peace deal, even...

Crude oil prices plunged over 4% as optimism over a possible US-Iran deal and reopening of the Strait of Hormuz eased supply concerns.

Washington and Tehran appear close to agreeing on ending the Middle East war that has effectively closed the Hormuz strait, driving up energy prices and stoking global inflation.

Concurrently with rising speculation over Iran and the United States reaching an agreement to de-escalate tensions and reopen the Strait ...

Oil prices fell about 5% to two-week lows on Monday as optimism grew that the United States and Iran were moving closer to a peace deal that would reopen the Strait of Hormuz,…

WTI, Brent slide over 6% as ‘war risk premium’ fades on US-Iran talks

Oil prices remained mixed on Tuesday as hopes of progress in US-Iran talks were offset by fresh US military strikes in Iran. While the US oil benchmark West Texas Intermediate…

Crude oil prices fell by 5.5 per cent on Monday to about $97.6 per barrel amid growing optimism over a possible peace agreement between the United States and Iran aimed at easing…