At 0045 GMT, US benchmark West Texas Intermediate was down 4.70 percent at $80.89 a barrel and North Sea Brent Crude sunk 4.03 percent to 83.81 percent. | World News

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.

SINGAPORE: Oil prices slipped on Monday after US President Donald Trump and Iran’s deputy foreign minister said they have reached a deal to halt the war and to resume…