Global oil prices increased again on Tuesday as uncertainty persisted over the details of the US-Iran agreement and concerns grew that it may take time for the Strait of Hormuz to return to full normalcy. Brent crude rose by 26 cents, or 0.3 percent, to reach 83.42 dollars per barrel, while West Texas Intermediate (WTI) climbed by 46 cents, or 0.3 percent, to 81.12 dollars per barrel.

The rebound followed a sharp decline on Monday, when oil prices dropped more than 4 percent after the announcement of a preliminary understanding between the United States and Iran to end ongoing hostilities. Analysts noted that many questions about the agreement remain unanswered, and uncertainty over the timeline for restoring normal oil transport through the Strait of Hormuz continues to weigh on the market.

Meanwhile, US President Donald Trump claimed that a memorandum of understanding aimed at ending the conflict had been electronically signed by him, Vice President JD Vance, and Iranian Parliament Speaker Mohammad Bagher Ghalibaf, according to reports from Reuters and AFP.