Brent crude oil prices surge above $88 amid hopes of a US-Iran deal to ease the Strait of Hormuz crisis. Learn how this impacts global oil supplies.

Brent crude futures were flat at $88 a barrel or 0.35%, while US West Texas Intermediate crude futures stood at $83.50, up 0.40% a barrel. Both benchmarks had jumped more than 5%…

Brent North Sea crude, the benchmark for international oil prices, rose above $90 on Tuesday as hopes of a US-Iran agreement to bring the war to an end...