Oil prices did not move significantly in early trading on Tuesday, with the August contract for a barrel (159 litres) of North Sea Brent crude trading at $82.76, down just under 0.5% on the previous day's close.
Since the sharp falls over the weekend and early Monday following the agreement between the US and Iran on a framework deal to end the war between them, prices have been hovering around $83.
Meanwhile, the first Iranian vessels have crossed the area of the Gulf of Oman affected by the US naval blockade, state media said.
At least three oil tankers and two cargo ships passed through the zone on Monday evening without incident, the Iranian broadcaster Press TV reported, citing well-informed sources.
The framework US-Iran deal aimed at ending the war is to be formally signed in Switzerland on Friday. A key sticking point until the end had been the opening of the Strait of Hormuz, a vital shipping route for the world's oil.
A lack of detail continues to weigh on market sentiment, however. The text of the deal is only set to be published after the signing, according to US Vice President JD Vance.
