Global oil prices have retreated sharply amid hopes that a lasting Middle East ceasefire can unlock the Strait of Hormuz.

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.

Oil prices moved lower on Wednesday as investors weighed the prospect of a U.S.-Iran agreement that could restore shipping through the Strait of Hormuz.

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

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 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.

Global oil prices have retreated sharply amid hopes that a lasting Middle East ceasefire can unlock the Strait of Hormuz.

Oil prices sharply rose on Monday afternoon as Iran suspended all indirect talks with the US and vowed to fully close the Strait of Hormuz.