SINGAPORE: Oil prices slipped to their lowest since March on Monday after U.S. President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.
Brent crude futures fell $3.58, or 4.10%, to $83.75 a barrel by 0004 GMT and U.S. West Texas Intermediate was at $80.87, down $4.01, or 4.72%. Both contracts tumbled more than 3% on Friday.
