Crude oil prices fall over 1% on US-Iran peace deal; Brent hovers around $78 per barrel (opens original article in a new tab)

Crude oil prices fell over 1% on Thursday as US-Iran peace deal negotiations began, with Brent crude at $78.66 per barrel and WTI at $75.81 per barrel.

• Brent crude futures fell 1.12% to $78.66 per barrel
• US-Iran interim agreement aims to reopen Strait of Hormuz and ease sanctions
• IEA warns of potential supply surplus by 2027 if agreement is implemented