The news boosted optimism for a lasting peace between the two nations after more than three months of war that has rattled energy markets and fuelled a fresh spike in inflation.

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

SINGAPORE: Oil prices slipped to a three-month low on Monday after US President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the…