The prices of oil futures continued to fall on Tuesday, with Brent going below $80 per barrel for the first time since early March. The agreement reached between the United States and Iran offset concerns about the availability of crude oil. US President Donald Trump, who is currently in France for the G7 summit, commented that the Strait of Hormuz will fully reopen by Friday, with no fees to be paid. At 8:22 am ET, Brent for August settlements dropped 3.69%, selling at $79.96 a barrel. A minute later, West Texas Intermediate (WTI) for July deliveries plunged 4.71%, going for $77.66 per barrel.