Oil prices fell further on Tuesday, extending declines spurred by the United States and Iran’s announcement on Sunday that they had reached a tentative agreement to end their war. Stocks were mixed after strong rallies the day before.
Oil prices have risen about 14 percent since Iran effectively closed the Strait of Hormuz in retaliation for US-Israeli attacks on Iran in late February. Hundreds of ships remain stranded in the Persian Gulf, unable to transport oil and gas to global markets.
The shipping company has reacted cautiously to news of the deal, which the US and Iran were expected to officially sign on Friday. The text of the agreement has not been released.
