Oil held losses as Iran said it reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, raising the prospect of more energy flows resuming through the critical waterway.
Oil held losses as Iran said it reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, raising the prospect of more energy flows resuming through the critical waterway.
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Oil fell for a third straight session on signs that the US and Iran are nearing a deal to reopen the Strait of Hormuz and restore millions of barrels of daily shipments disrupted by months of war.
Oil slid to the lowest in over three weeks as optimism grew that the US and Iran are moving closer to an agreement that would reopen the vital Strait of Hormuz chokepoint.
Oil fell after US President Donald Trump called off a planned attack on Iran and said new talks with the Islamic Republic would begin on Monday.