Global oil prices resumed their decline on Tuesday as tensions in the ongoing conflict between the United States and Iran eased. Both countries have refrained from launching new attacks, according to the report. Benchmark Brent crude fell 2.2 percent to $84.03 a barrel in international trading.

US crude, West Texas Intermediate, also declined, falling 1.7 percent to trade at $81.20 a barrel. Before the war involving Iran, the United States and Israel began in late February, Brent crude had been priced at about $72 a barrel.

Currency markets also showed movement on Tuesday. The Japanese yen weakened against the US dollar at the start of the day, with the dollar rising to 163.82 yen, while the euro also weakened somewhat. Regional Middle East officials said on Monday that mediators had made major progress and were seeking to bring the United States and Iran back to the negotiating table after attacks had been suspended for several days.