Oil prices plunged on Monday after the U.S. and Iran announced a tentative deal to end the war and reopen the Strait of Hormuz, potentially restarting the flow of about a fifth of the world's energy after more than three months.
Brent crude, the international benchmark, plummeted by more than 5%, hovering below $83 a barrel at 7:10 a.m. ET, while West Texas Intermediate, the U.S. benchmark, dropped further and stood just above $80 a barrel at the same time.
