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 Iranian ports and reopen the vital Strait of Hormuz.

Brent crude oil prices fell to their lowest levels since early March as traders grew more confident about an imminent peace agreement between the US and Iran.

Oil prices fell sharply on Sunday after US President Donald Trump declared a deal with Iran "complete" and announced the "immediate toll-free reopening of the Strait of Hormuz", a…

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,…