Oil prices dropped significantly, reaching their lowest point in nearly two months as U.S. and Iranian officials indicated a potential agreement to de-escalate tensions in the Middle East. Reports suggested a memorandum could be signed soon, impacting global oil markets and the Strait of Hormuz.

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.

Oil prices dropped significantly, reaching their lowest point in nearly two months as U.S. and Iranian officials indicated a potential agreement to de-escalate tensions in the…

Oil prices drop more than 4% after a reported US-Iran deal to halt conflict and reopen the Strait of Hormuz reduces global supply concerns.

Oil prices dropped significantly as President Trump and Iran's deputy foreign minister announced an initial deal to end the war and reopen the Strait of Hormuz. The agreement,…