Oil prices fall on US Iran peace deal optimism

President Trump says Iran talks progressing

President Trump shared that both countries have made real progress in their talks, hinting at a possible agreement.
But he also admitted, he had instructed US negotiators not to rush into a deal with Iran, pointing to unresolved issues around shipping and security in the strait.
Even if there's a deal, experts say it could take months for oil flows to fully bounce back since repairs and logistics need sorting out first.

The Strait of Hormuz is crucial: it handles about one-fifth of the world's oil and liquefied natural gas shipments—so any changes here matter for everyone's energy bills.