Brent crude futures fell below $79 per barrel on Tuesday, its lowest level since March, after the United States and Iran digitally signed a peace agreement that includes the reopening of the Strait of Hormuz and the immediate return of Iranian oil sales to global markets.

How this affects you

Oil markets experienced a significant drop in prices, with Brent crude falling below $79 a barrel, indicating a potential stabilization of global oil supplies and easing geopolitical tensions previously impacting the market. The agreement allows Iran to immediately resume oil sales and related services, reconnecting a major oil producer to the global energy market.