Expectations of improved US-Iran relations send oil price lower

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

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

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 plunged Wednesday on rekindled hopes for progress in US-Iran talks aimed at ending the war in the Middle East.