Oil Drops as US Says Deal With Iran and Hormuz Reopening Is Near

Oil dropped as the US and Iran edged toward a deal, although President Donald Trump said that Washington’s blockade of the Strait of Hormuz would remain until an agreement was...

By Nicholas Lua · Bloomberg Markets

Oil dropped as the US and Iran edged toward a deal, although President Donald Trump said that Washington’s blockade of the Strait of Hormuz would remain until an agreement was completed.