Oil prices tumbled Tuesday as traders once again priced in a U.S.-Iran agreement before anyone had actually signed one. Both benchmarks touched three-week lows as hopes rose that an agreement could reopen the Strait of Hormuz. As reported earlier, Treasury Secretary Scott Bessent said a deal could come Tuesday or Wednesday, while Secretary of State Marco Rubio said talks involving Iran and Oman had made progress. President Donald Trump went further, calling an agreement to reopen the strait and denuclearize Iran “imminent.” US and Iran are finalizing a 60-day interim agreement to reopen the Strait of Hormuz, with an announcement expected tomorrow – Axios.