Amid the understandings to end the war between the US and Iran and the expected opening of the Strait of Hormuz, a barrel of Brent crude is trading at $83, US crude (WTI) at $80; Trump: 'Ships of the World, start your engines. Let the oil flow!'

"The Deal with the Islamic Republic of Iran is now complete," Trump said in a Truth Social post.

SINGAPORE: Oil prices slipped on Monday after US President Donald Trump and Iran’s deputy foreign minister said they have reached a deal to halt the war and to resume…