Crude oil futures fell midday Tuesday after U.S. Treasury Secretary Scott Bessent said an agreement to reopen the Strait of Hormuz could be imminent.

Crude prices reversed course on Tuesday after Treasury Secretary Scott Bessent indicated there may be a deal to open the key Strait of Hormuz as soon as this week.

Crude oil futures fell midday Tuesday after U.S. Treasury Secretary Scott Bessent said an agreement to reopen the Strait of Hormuz could be imminent.