Oil prices dropped sharply, with Brent nearing $93 per barrel, as the US and Iran tentatively agreed to extend a truce, potentially easing Strait of Hormuz shipping restrictions.

Oil prices fell on Thursday as hopes of a possible agreement between the US and Iran to prevent further escalation in the Middle East conflict and reopen the Strait of Hormuz…

Oil prices climbed as US forces conducted airstrikes and intercepted drones near the Strait of Hormuz, while diplomatic efforts between Washington and Tehran remained stalled.