Brent traded below $84 per barrel on Tuesday after tumbling nearly 5% in the previous session, as investors awaited further details of the reported US-Iran peace agreement that could reopen the Strait of Hormuz. The interim accord is expected to be signed in Switzerland on Friday, with President Donald Trump saying the free flow of oil from the Persian Gulf would resume once the deal takes effect. However, neither Washington nor Tehran has released the text of the memorandum of understanding, leaving markets cautious and prompting shipping companies to delay sending vessels through the route until greater clarity emerges. Oil markets have been heavily disrupted since the conflict began in late February, with the near-closure of the Strait of Hormuz affecting roughly one-fifth of global crude shipments.