#OilPricesDrop
Oil prices have fallen after US President Donald Trump said negotiations to end the war were progressing, while Iran said "non-hostile" vessels could use the crucial Strait of Hormuz shipping route.
Brent crude fell by 5% to $99.29 (£74.16) a barrel, while US-traded oil fell by more than 5.5% to $88.41.
Trump said on Tuesday that talks to end the war were happening "now" and that the people the US were in discussions with "want to make a deal so badly" - a claim disputed by Iranian officials.
Tehran officials have dismissed claims of such talks as "fake news", with a Foreign Ministry spokesman saying on Tuesday night that "no one can trust US diplomacy."
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