Oil prices have eased following US President Donald Trump's announcement to pause operations guiding ships through the Strait of Hormuz, signaling a potential deal with Iran.

• Brent crude fell 1.7% to $108 a barrel, and US-traded oil dropped 1.6% to $100.60.
• The initiative, named Project Freedom, aims to de-escalate tensions after attacks across the Middle East intensified.
• The Strait of Hormuz is a critical route, with approximately a fifth of global oil and gas shipments crossing it.