Oil prices retreated on Monday after signs of progress in US-Iran negotiations eased fears of ongoing supply disruptions in the Strait of Hormuz, a critical global oil transit route. At the time of writing, Brent crude was down 0.91% at $79.12 a barrel, while US West Texas Intermediate (WTI) crude had fallen 0.70% to $75.32 a barrel. Lower crude prices reflected broader investor sentiment in early trading after Qatari and Pakistani mediators said the first round of negotiations between the...