Oil Prices Tumble On US-Iran Deal Hopes

Oil prices traded sharply lower on Wednesday as U.S.-Iran talks continued despite new American attacks on missile sites and mine-laying ships in the Strait of Hormuz.Brent crude futures for August delivery slumped 3.6 percent to $93.22 a barrel while WTI crude futures for July delivery plummeted 4.4 percent to $89.78.Traders and speculators appear hopeful that the United States and Iran could reac…