Oil prices plunge amid reported progress in US, Iran talks

Oil prices plunged astir midday connected Wednesday arsenic reports emerged that the U.S. and Iran are nearing an statement connected a one-page memorandum that could effect successful the reopening of the Strait of Hormuz.  The planetary benchmark, Brent crude oil, reached $101.75 astatine 11:00 a.m. EDT portion West Texas Intermediate deed $95.60, according to Reuters. …