Oil Prices Tumble 4% on Iran Peace Optimism

Oil prices plunged by more than 4% early on Friday as the market hopes the U.S. and Iran have made progress toward a peace deal. As of morning trade in Europe, the international benchmark, Brent Crude, had slipped by 4.34% at $86.36, extending the losses from Thursday when U.S. President Donald Trump called off a strike on Iran, claiming that a deal had been reached. The U.S. benchmark, WTI Crude, had dipped by 4.47% at $83.88. Both benchmarks were headed to a three-month low amid one of the most optimistic signals about a deal coming from the…