Oil prices slide on hopes of US-Iran peace deal
Oil prices slide on hopes of US-Iran peace deal7 hours agoShareSaveAdd as preferred on GooglePeter HoskinsBusiness reporterHindustan Times via Getty ImagesOil prices have fallen sharply on hopes of a deal that could bring an end to the US-Israel war with Iran.
US Secretary of State Marco Rubio said negotiators had a “pretty solid thing on the table” and an agreement to end the conflict might be reached on Monday.
On Monday morning, global oil benchmark Brent fell 5.5% to $97.90 a barrel, and remained around $97.70 a barrel in the afternoon.
US President Donald Trump said the negotiations were “proceeding nicely” but added it would either be “a great deal for all or no deal at all”.
While Iran says progress has been made, a government spokesman added that a deal was “not imminent”.
Trump had previously said the deal would include the reopening of the key Strait of Hormuz shipping route, without giving further details.
The Strait of Hormuz, through which around a fifth of the world..
