Oil price fluctuates ahead of Trump's Iran deal deadline

Global oil prices have fluctuated ahead of a deadline set by US President Donald Trump for Iran to open the crucial Strait of Hormuz shipping route. The price of global benchmark Brent crude rose above $111 (£84) a barrel in early trade on Tuesday before dropping to $109. On Monday, Trump threatened to take out Iran "in one night" if it failed to agree a deal with the US by 20:00 Washington DC time on Tuesday (00:00GMT Wednesday). Oil and gas shipments from the Middle East have been severely di…