Crude oil prices drop over 3% to multimonth lows on US-Iran deal hopes, while Bitcoin climbs 2% to $65,800 as geopolitical risk premiums ease across

The price of crude oil is tumbling, and U.S. stock futures are moving higher.

Oil prices drop 4% after the US and Iran agree to reopen the Strait of Hormuz within 30 days, with WTI crude falling to the $81-85 range and crypto markets