Brent Crude Dives to Two-Week Low as Axios Reports US-Iran Framework Deal Near to End War

Brent crude prices plunged to two-week lows due to reports of a potential US-Iran framework deal to end the war, leading to market reactions. The possibility of the Strait of Hormuz reopening has fueled a significant drop in oil prices and confirmed a drawdown in global oil inventories. The US is anticipating Iran's response within the next 48 hours.