Oil prices drop to cheapest level since early days of Middle East conflict

Crude oil prices dropped nearly 13% as markets anticipate a deal to end the war with Iran, with Brent crude at $83 and West Texas Intermediate at $80. The deal, expected to reopen the Strait of Hormuz, involves President Trump, Iranian leaders, and Pakistani negotiators, aiming to ease global oil supply disruptions and reduce inflationary pressures.