US-Iran peace deal, June 18 -- Oil prices declined in early trading session on Thursday, 18 June, after the United States and Iran reached an interim agreement aimed at ending the conflict, reopening the Strait of Hormuz, and easing US sanctions on Iranian oil exports. The deal is expected to resolve what has been considered the largest disruption to global energy supplies in recent history.

Brent crude futures had fallen 89 cents, or 1.12%, to $78.66 per barrel, while U.S. West Texas Intermediate (WTI) crude slipped 98 cents, or 1.28%, to $75.81 per barrel.

Both benchmark indices resumed their downward trajectory, giving up the gains recorded on Wednesday after US President Donald Trump warned that military strikes could resume if Iran...