The global benchmark price has fallen below $76 a barrel – the price it was trading at before the war in Iran began as investors becoming increasingly encouraged that oil tanker traffic through the Strait of Hormuz could soon return to normal. Follow for live updates

Oil prices retreated on Monday after signs of progress in US-Iran negotiations eased fears of ongoing supply disruptions in the Strait of Hormuz, a critical global oil transit…

Global benchmark trades at lowest level since Iran conflict began on February 28