Brent crude crashed about 10% to near US$88 a barrel after a US-Iran ceasefire eased Middle East war-risk premiums, even as a tanker exploded in the Strait of Hormuz.

Oil prices eased in early trading on Monday, falling further from a two-month high set last week, after the United States and Iran refrained from launching military strikes in the…

Brent lower after two weeks of escalating violence had pushed crude to more than $100 a barrel