Foreign
OIL prices did not move significantly in early trading on Tuesday, with the August contract for a barrel (159 litres) of North Sea Brent crude trading at 82.76 dollars, down just under 0.5 per cent on the previous day’s close.
Since the sharp falls over the weekend and early Monday following the agreement between the U.S. and Iran on a framework deal to end the war, prices have been hovering around 83 dollars.
Meanwhile, the first Iranian vessels have crossed the Gulf of Oman, an area affected by the U.S. naval blockade, state media said.
At least three oil tankers and two cargo ships passed through the zone on Monday evening without incident, the Iranian broadcaster Press TV reported, citing well-informed sources.
The framework U.S.-Iran deal aimed at ending the war is to be formally signed in Switzerland on Friday.
A key sticking point until the end had been the opening of the Strait of Hormuz, a vital shipping route for the world’s oil.
A lack of detail continues to weigh on market sentiment, however.
The text of the deal is only set to be published after the signing, according to U.S. Vice President JD Vance.
(dpa/NAN)
W.U
June 16, 2026
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