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 straitstimes.com.

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.

Brent crude drops 15% from war highs as US-Iran peace deal hopes and plans to reopen the Strait of Hormuz reshape global oil markets and investor

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.