Oil prices hit a two-month low as US benchmark WTI crude fell nearly 3%, following Donald Trump's statement about a potential peace agreement with Iran this weekend.

US crude tumbled almost 3 per cent at the open to US$85.13 a barrel, the lowest level since April 17, before paring some losses. Read more at straitstimes.com. Read more at…

Crude oil futures fall as Trump hints at a potential peace deal with Iran, affecting market dynamics significantly.