🛢️🇺🇸🇮🇷 Oil drops 6% on Iran deal hopes. Markets are pricing in peace.

- Brent crude fell from $104 to ~$97 a barrel

- WTI dropped from $97 to ~$90

- Both sides have since downplayed chances of a deal being signed soon, limiting further gains

- U.S. stock futures jumped, pointing to a strong Tuesday open

- European markets up 1.75%. Asian stocks also higher

Oil is still $23 above pre-war levels. The market is optimistic, not convinced.

Source: CNN