The price of Brent crude oil dropped below $84 per barrel for the first time in almost two months

The price of Brent crude oil fell by more than 4% during trading on the London Stock Exchange and fell below $84 per barrel amid expectations of a possible peace agreement between the United States and Iran, Trading Economics reports.

"Oil fell by more than 4%, falling below $84 per barrel and reaching its lowest level in eight weeks, as hopes increased that the United States and Iran would be able to conclude a peace agreement," the material says.

The reason for the decline in quotations was the reports of the Iranian agency Mehr on the preparation of a draft agreement of 14 points. The document provides for the lifting of oil sanctions against Iran and Tehran's commitment to reopen the Strait of Hormuz for navigation within 30 days. At the same time, the proposal has yet to receive the approval of the Iranian authorities.

Missile PR: how far are Iran and the United States ready to go in the conflict

The crisis in the Strait of Hormuz is deepening, but Washington and Tehran still have a chance to reach preliminary agreements.

On June 11, US President Donald Trump announced that Iran's supreme leader Mojtaba Khamenei had approved the agreements with the United States. According to his message, the Islamic Republic undertakes in the memorandum of understanding not to seek to possess nuclear weapons. As part of the agreement, it is also planned to lift the naval blockade against Iran.

According to the Axios portal, Trump said that one of the possible ways to resolve the Iranian nuclear issue could be to "dilute" highly enriched uranium directly on the territory of the country under the supervision of UN inspectors.