Oil falls 7% as U.S. and Iran reportedly near a deal

Oil prices fell nearly 7% as the U.S. and Iran seemingly inch closer to a deal. The drop can be attributed to U.S. President Trump’s remarks that negotiations were “proceeding nicely.” Brent crude futures were down $7.24, or 7%, at $96.20 a barrel, with West Texas Intermediate futures down $6.30, or 6.5% at $90.88.