Oil slides on peace-talk optimism but Hormuz risk lingers

Oil prices slipped to a two-week low as investors priced in progress toward a U.S.–Iran peace deal, with Brent around $98.90 a barrel and WTI about $92, while blockades in the Strait of Hormuz continue to constrain supply. Trump said there’s no rush into a deal, suggesting near-term relief may be limited, and analysts say it could take months for flows to normalize even if a deal advances.