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Oil prices sink on signs of U.S.-Iran deal
Crude oil prices dropped about $5 per barrel Sunday evening in the first major trading since the emergence of rough and tentative outlines of a deal to end the U.S.-Iran conflict.Why it matters: The throttling of the Strait of Hormuz is raising energy costs and weighing down economies worldwide — including the U.S., where average pump prices are about $1.50-per-gallon above pre-war levels.And the crisis is poised to worsen as global crude oil inventories are depleting at a record pace.The latest
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