Oil prices dropped on Tuesday after the U.S. said the ceasefire with Iran is not over despite Tehran's attacks and Washington guaranteeing passage for a ship through the Strait of Hormuz.
Both Brent crude and the West Texas Intermediate fell, reversing some of the increases seen on Monday. The former did so by close to 3%, standing above $111 at 9:46 a.m. ET, while the latter's drop was closer to 4%, standing at $102.31 at the same time.
