U.S. oil falls below $89 on report Iran agreement would restore Hormuz traffic in one month

U.S. crude oil prices fell about 6% Wednesday on a report Iran would restore traffic through the Strait of Hormuz as part of a framework deal with the U.S. West Texas Intermediate futures tumbled 5.7% to $88.53 per barrel by 8:33 a.m. ET. International benchmark Brent crude oil slid about 4.7% to…