U.S. crude futures rose about $1 in early trade on Thursday, rebounding from ​the previous day's losses, as investors assessed ‌prospects for a Middle East peace deal.

Optimism over a possible deal to end the war with Iran, reported by Axios, sent crude oil futures falling as gas prices continue to rise across the U.S., reaching an average of $4.54 per gallon. NBC News’ Brian Cheung reports on why gas prices are still expected to stay high if talks for a deal remain positive.

Global oil prices fell by as much as 12% Wednesday, then pared nearly half of those losses as the market weighed reports of progress toward a U.S.-Iran peace deal and the potential impact on the growing crude-supply crisis in the Persian Gulf.

The Big Money Show’ reacts to President Donald Trump pausing ‘Project Freedom’ as the U.S. and Iran near a deal to end the conflict, sending oil prices lower and opening a 48-hour window for final negotiations.

Oil prices extended declines on Wednesday (May 6), slumping to two-week lows after a Pakistani source said the United States and Iran were nearing an initial peace deal. Francis Maguire reports. Does the UAE exit strip OPEC of its clout?

US oil prices fell nearly 10% on Wednesday after news that a peace deal could be close. Stocks jumped and bond yields tumbled.

Oil prices are sinking, and stock markets are bursting higher worldwide Wednesday with hopes that the United States and Iran are nearing a deal to allow ships to deliver crude from the Persian Gulf once again to their customers.

Oil futures curbed some losses as Trump suggested that an agreement to end the conflict with Iran could still falter. Brent crude had briefly dropped below $100.