Oil prices remained relatively stable in early trading on Tuesday. The August contract for a barrel (159 liters) of North Sea Brent crude was at $82.76, down just under 0.5% from the previous day’s close.
Following sharp declines over the weekend and early Monday after the U.S. and Iran reached a framework deal to end the war, prices have hovered around $83.
Meanwhile, the first Iranian vessels have crossed the Gulf of Oman, an area affected by the U.S. naval blockade, according to state media.
At least three oil tankers and two cargo ships passed through the zone Monday evening without incident, reported Iranian broadcaster Press TV, citing well-informed sources.
The U.S.-Iran framework deal, aimed at ending the war, is scheduled to be formally signed in Switzerland on Friday.
A key sticking point had been opening the Strait of Hormuz, a crucial shipping route for global oil.
However, market sentiment remains cautious due to a lack of details. The deal’s text is expected to be published only after signing, U.S. Vice President JD Vance said.
