Oil prices drop on signs of possible US-Iran agreement

Crude prices tumbled as expectations strengthened that a deal could be reached to halt the US-Israel war with Iran.

US Secretary of State Marco Rubio said the parties involved had worked out a “pretty solid” framework, and an agreement could come as soon as Monday.

Brent crude slid roughly 5.5% to about $97.70 per barrel, with investors responding to the chance that the conflict may ease.

US President Donald Trump said negotiations were moving forward, while making clear that the result would be “a great deal or no deal at all.”