Oil prices slide on hopes of US-Iran peace deal

Trump said on Saturday that an agreement would include the reopening of the Strait of Hormuz, without giving further details.

Oil prices fell 6% to two-week lows on Monday, as optimism grew that the United States and Iran were moving closer to a peace deal, even though they remain at odds over key issues, such as blockades on the Strait of Hormuz.

Oil prices have dropped significantly as markets react to potential peace talks between the United States and Iran. Asian stock markets saw early gains on Monday.

Oil prices have fallen sharply amid tentative hopes for a deal to end the US-Israel war on Iran. Brent crude, the primary benchmark for global oil prices, fell about 5 percent on Sunday as US President Donald Trump gave mixed signals on the prospects for a permanent end to the conflict.

Oil prices fell sharply in Asian trade, with Brent breaking below $100 a barrel amid growing hopes for a U.S.-Iran peace deal.

Oil prices have fallen sharply, and Asian stock markets have risen on hopes of a deal that could bring an end to the US-Israel war with Iran.

Crude oil prices dropped about $5 per barrel following early signs of a tentative deal to end the U.S.-Iran conflict, with Brent crude futures trading around $98.76 per barrel.

The White House indicated that a potential deal to end the war with Iran could be finalized within days, though approval by Iran's leadership may delay the process.

Oil prices fell sharply in Asian trade, with Brent breaking below $100 a barrel after U.S. officials flagged progress towards reopening the Strait of Hormuz.

Oil prices have fallen sharply amid tentative hopes for a deal to end the US-Israel war on Iran, with Brent futures for July standing at $98.47 a barrel.

Global crude oil prices plunged on Monday as growing optimism surrounding a potential peace agreement between the United States and Iran eased fears of prolonged supply disruptions across the Middle East.

Oil prices fell to a two-week low on optimism that the US and Iran were moving closer towards a peace deal, even though they remained at odds over key issues.