Brent oil drops below 80 USD per barrel on U.S.-Iran deal

Hopes for ongoing U.S.-Iran talks to end hostilities in the Middle East sent international crude oil futures to continue to tumble on Tuesday, with Brent crude briefly dipping below the 80 U.S. dollars per barrel threshold during the day's session.

In early morning trading, West Texas Intermediate (WTI) crude for July delivery dropped 4.79 percent to settle at 76.88 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery fell 4.28 percent to settle at 79.61 U.S. dollars a barrel on the London ICE Futures Exchange.

U.S. President Donald Trump announced on Tuesday that the Strait of Hormuz would be fully reopened by Friday.

Crude prices have fallen for three straight trading sessions following the announcements of a memorandum of understanding between the U.S. and Iran being finalized, with both WTI and Brent falling more than 10 percent over the stretch.

Despite the drastic decline, international crude benchmarks remain well above prices recorded before the U.S.-Israel war against Iran erupted in late February.

China's first batch of commercial real estate investment trusts (REITs) debuted on the Shanghai Stock Exchange on Thursday, which was expected to help better use commercial real estate resources to serve the real economy.

The four commercial REITs' underlying assets cover mature commercial formats such as commercial retail and office buildings, which are located in core areas of cities including Beijing, Shanghai, Zhengzhou, Xi'an and Harbin.

The listings could help the asset owners raise funds and promote asset-light operation, while the investors could indirectly hold commercial properties and obtain dividend incomes from operating revenues such as rents.