Oil Slumps After Report US and Iran Near Deal to End War

Oil slumped for a second day after Axios reported that the US and Iran are getting close to a one-page memorandum of understanding to end the war.

By Salma El Wardany, Rakteem Katakey · Bloomberg Markets

Oil slumped for a second day after Axios reported that the US and Iran are getting close to a one-page memorandum of understanding to end the war.