Oil prices fell by more than 3% after the Trump administration dampened hopes of reaching a deal with Iran soon.

Singapore, May 24 (Reuters) - Oil prices fell as the dispute between the United States and Iran over a peace deal continued, raising concerns that ongoing restrictions on Middle East oil shipments through the Strait of Hormuz could harm global economic growth.

Brent crude futures fell $4.64, or 4.48 percent, to $98.90 a barrel by 22:03 GMT.

U.S. West Texas Intermediate crude fell to $92.18 a barrel, down $4.42 or 4.58 percent.


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