12 articles · Updated · The New York Times · May 1
Brent slipped more than 2% to about $108 a barrel and WTI fell more than 3% to around $101 on Friday morning after Thursday's four-year high above $120.
Stocks edged higher as crude cooled, though regular gasoline prices continued to reflect the earlier surge in oil markets.
Prices had swung sharply on uncertainty over US-Iran peace talks and President Trump's insistence that the Strait of Hormuz blockade would remain unless Tehran abandons its nuclear programme.
As war rages and a key strait is closed, what is truly driving oil prices down?
What secret offer from Iran could end the costly blockade of the world's most vital oil chokepoint?
Can a new deal truly resolve the nuclear standoff, or is this just another temporary truce?