Oil Prices Plunge Amid US-Iran Peace Deal Hopes; Trump Hints at Strait of Hormuz Reopening

Oil and gas prices have fallen sharply, with oil prices dropping over 5% on Monday, due to growing hopes for a peace agreement between the United States and Iran. Trump suggested the deal would involve reopening the Strait of Hormuz, though details remain scarce, and experts predict oil prices are unlikely to return to pre-war levels soon.