Oil falls below $90 on renewed U.S.-Iran deal hopes

AFP via Times of Israel reported oil prices down about 5 percent and below $90 a barrel after Trump again said an Iran deal could be close. Later Trading Economics and FT readings kept WTI and Brent lower on June 9 as vessel-traffic reports tempered supply fear, while prices remained sensitive to Hormuz and Apache-response risk.

Why this matters. Oil moving lower despite Hormuz risk shows markets were pricing deal hope more strongly than immediate disruption. That makes crude a useful stress gauge: a reversal would signal that traders see retaliation or shipping risk overtaking diplomacy.