After weeks of turmoil that rattled energy markets, oil was trading around $80 per barrel mark on Tuesday as the Middle East chaos has shown signs of cooling down. However, the benchmarks were still trading higher than Monday, as details of the peace deal remains in shadows.

At 0045 GMT, US benchmark West Texas Intermediate was down 4.70 percent at $80.89 a barrel and North Sea Brent Crude sunk 4.03 percent to 83.81 percent. | World News

Oil prices traded over 5% lower on Monday morning after US President Donald Trump announced the completion of the deal with Iran and the reopening of the Strait of Hormuz.

Brent crude, the international benchmark for oil prices, hit $80.41 at 6:46 a.m. EDT on Monday.

Brent crude, the international benchmark for oil prices, hit $80.41 at 6:46 a.m. EDT on Monday.

After weeks of turmoil that rattled energy markets, oil was trading around $80 per barrel mark on Tuesday as the Middle East chaos has shown signs of cooling down. However, the…

The rebound followed a sharp selloff on Monday, when oil prices tumbled nearly 5% to their lowest closing level since March 4. The decline came after U.S. President Donald Trump…