May 25 (Reuters) - Copper rose on Monday as the dollar and oil prices fell on hopes of a potential peace deal between the United States and Iran, easing fears of inflation and a global economic slowdown.

Three-month copper on the London Metal Exchange CMCU3 rose 0.90% to $13,624.32 a metric ton by 0419 GMT.

The most-traded copper contract SCFcv1 on the Shanghai Futures Exchange gained 1.1% to 105,590 yuan ($15,539.93) a ton.

Expectations of a U.S.-Iran deal to reopen the Strait of Hormuz pushed oil prices below $100 per barrel. O/R

Energy prices have risen sharply during the nearly three-month-long Middle East war, stoking inflation concerns and shifting the global interest rate outlook.

However, hopes of a peace deal have eased concerns over inflation and a global slowdown, supporting demand for copper, which is widely considered a bellwether for the health of the global economy.

U.S. President Donald Trump said on Sunday he had told his representatives not to rush into any deal with Iran as his administration played down expectations of an imminent breakthrough in the war.

On Saturday, Trump said Washington and Iran had "largely negotiated" a memorandum of understanding on a peace deal that would reopen the Strait of Hormuz.

The U.S. dollar index .DXY shed 0.2%, making greenback-priced commodities cheaper for other currency holders. USD/

Elsewhere on the LME, aluminium CMAL3 added 0.5%, zinc CMZN3 rose 0.6%, lead CMPB3 was up 0.4%, nickel CMNI3 gained 0.8% and tin CMSN3 climbed 2.2%.

Among other SHFE metals, aluminium SAFcv1 ticked 0.5% lower, zinc SZNcv1 was up 0.3%, lead SPBcv1 rose 0.1%, nickel SNIcv1 gained 0.2% and tin SSNcv1 added 1.2%.

($1 = 6.7815 Chinese yuan)