Oil prices decreased early Monday amid negotiations between the Trump administration and Iran on reopening the Strait of Hormuz and ending the Middle East conflict. West Texas Intermediate crude futures, the benchmark for North American markets, dipped by more than 6.1 percent to $90.68 as of early Monday. Brent crude futures, the global benchmark, dropped...

National Economic Council Director Kevin Hassett said energy prices are going to fall “like nothing you’ve ever seen before” once Iran reopens the Strait of Hormuz. “Well, you know, I can't really talk about the ongoing negotiations and the strikes, but what I can say is that as soon as the straits are open, then...

Former national security adviser John Bolton suggested Monday that Iran is relying on fluctuating oil prices as leverage in its ceasefire negotiations with the U.S., hoping the domestic political pressure will push President Trump into concessions. “I think the regime in Iran believes it can outlast Trump, that it has more patience than he does...

Peace deal negotiations between the Trump administration and Iran are on shaky ground Tuesday after the Islamic Republic‘s supreme leader warned U.S. bases in the Middle East are no longer safe. Ayatollah Mojtaba Khamenei delivered this warning in a message to mark the beginning of Hajj — an annual Muslim pilgrimage to Mecca — a...

Oil prices dipped Thursday amid reports that the U.S. and Iran had reached a tentative deal to extend their ceasefire and reopen the Strait of Hormuz. International benchmark Brent crude was trading at about $94 per barrel as of Thursday afternoon, down from about $96 per barrel before reports emerged.  U.S. benchmark West Texas Intermediate crude was around $89 per barrel,...