Brent and WTI crude oil prices retreated sharply on Hyperliquid ahead of a US-Iran deal that may be signed on Sunday as risks remained

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 fell sharply as traders bet that a possible U.S.-Iran agreement could reopen the Strait of Hormuz and ease global supply fears.