Oil drops to $89 as Iran's peace deal may reopen the Strait of Hormuz. New all-time high for crude oil by September 30 at 23% YES.

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

Peace talks between the US and Iran could lead to a significant drop in oil prices, impacting global fuel costs. Learn how the Strait of Hormuz reopening a

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

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

Oil prices steady as US-Iran talks progress. New all-time high for crude oil by September 30 at 25% YES.