Oil prices fall as US and Iran approach peace agreement
Brent crude fell nearly 7% to 102 dollars. Reports suggest the US and Iran are nearing a peace deal to end the conflict, though some officials remain cautious.
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Brent Crude Oil fell 6.94% to $102.24 a barrel on Wednesday as the United States and Iran reportedly neared a peace deal. Prices hit two-week lows after West Texas Oil also dropped 6.84% to $95.27. Crude oil supply losses from halted marine traffic through the Strait of Hormuz since the war began in February have driven up prices.
