Brent crude traded at $92.56 and WTI at $87.18 on the final trading day of the month, reflecting declines of 19 percent and 16.5 percent respectively from recent highs. Reports indicate U.S. and Iranian negotiators have largely agreed to a 60-day ceasefire memorandum that still requires approval from President Donald Trump. Iranian missile and drone activity continued in the region even as markets priced in reduced risk from the Strait of Hormuz.