Markets bet on renewed Iranian exports, sending WTI and Brent sharply lower

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.

WTI crude fell sharply during the week as traders scaled back expectations of a major U.S.-Iran escalation, outweighing support from a large drawdown in U.S. oil inventories.

Interim accord to ease supply crunch that has gripped energy markets since February

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