Oil prices plunge 5% on U.S.-Iran deal hopes

Global oil prices fell more than 5% on Wednesday after President Trump told reporters the U.S. is in "final stages of Iran."

International benchmark, Brent North Sea crude, shed 5.2% to $105.47 a barrel.

The main U.S. contract, West Texas Intermediate, tumbled 5.0% to $98.94 a barrel.

Mr. Trump had said, "We'll see what happens. We'll either have a deal or we're going to do some things that are a little bit nasty, but hopefully that won't happen."