Oil prices have fallen sharply following the peace agreement between the United States and Iran.
The price of Brent crude, the global benchmark, for delivery in August dropped by around 4% to roughly $84 per barrel (159 litres).
The price of US benchmark West Texas Intermediate (WTI) for delivery in late July fell by a similar margin in the United States on Sunday evening, to around $81 per barrel.
After the start of the Iran war in late February, Tehran had largely brought shipping in the Strait of Hormuz to a standstill through threats and attacks, pushing up energy prices worldwide.
The strait is crucial for exports of oil and liquefied natural gas from the resource-rich Gulf states.
