The development, stemming from an interim US-Iran agreement, could alleviate food inflation fears fueled by the Middle East conflict.

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,…

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

The US and Iran have agreed on an interim deal to end the war, removing a major overhang for markets and sending oil prices lower