Oil prices dropped Thursday as the International Energy Agency projected a supply surplus for next year, following a U.S.-Iran peace deal signed by President Trump.

Oil prices fell sharply on Monday while global equities rallied after the United States and Iran announced a deal to end their conflict and reopen the Strait of Hormuz, easing…

Markets rally on expectations that the agreement will ease global energy supply concerns, though analysts warn gas prices may remain elevated for some time.