Oil Drops Below $100 as Trump-Iran Deal Hopes Put Strait of Hormuz Back in Play

Hope for a partial U.S.-Iran agreement has led to speculation about the reopening of the Strait of Hormuz, potentially easing supply risks related to the Middle East conflict. Oil prices fell but stabilized due to optimism surrounding a potential deal, while the U.S. stock market remained positive. The market anticipates a smoother resolution than actual negotiations have produced.