Oil Steadies as Traders Seek Clarity on Planned Hormuz Reopening (opens original article in a new tab)

Oil prices stabilized near their lowest level since March amid optimism about a potential US-Iran deal to reopen the Strait of Hormuz, which had caused their largest drop in over two weeks.

• Oil prices steadied near their lowest level since March due to optimism about a potential US-Iran deal
• The deal is expected to reopen the Strait of Hormuz
• Oil prices had their largest drop in over two weeks