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.

By Isabel Wang and Myra P. Saefong

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 dropped significantly after the US and Iran announced a peace deal to reopen the vital Strait of Hormuz shipping lane. Read more at straitstimes.com. Read more at…

Crude oil prices fell over 4% to their lowest levels in over three months.

Oil prices sank Monday, hitting their lowest levels in more than three months, after the United States and Iran said they had reached an agreement that would end a US blockade of…

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,…

Oil prices fell sharply after the U.S. and Iran announced a deal to reopen the Strait of Hormuz.

US-Iran peace deal sparks immediate drop for Brent crude but analysts warn complex negotiations lie ahead, potentially halting further significant drops

Brent crude futures falls $4.08 to $83.25 a barrel and US West Texas Intermediate falls $4.35 to $80.53.

Rolling coverage of the latest economic and financial news

SINGAPORE: Oil prices slipped to a three-month low on Monday after US President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the…

HOUSTON, June 15 : Oil prices slumped 5 per cent to a three-month low on Monday amid a broad selloff after the U.S. and Iran said they agreed terms to end their war and reopen the…

US & Iran will sign MoU in Switzerland Friday. Trump said that the strait would open 'toll-free' and naval blockade of Iranian ports would end.

Oil prices fell to a three-month low after the US and Iran's peace deal

Oil prices plunged more than 5% to reach three-month lows on Monday and stock markets jumped after the United States and Iran reached an initial agreement...

Oil prices on Monday fell to their lowest level since March after U.S. officials announced an agreement with Iran.