The price of oil fell slightly.
The price of oil showed a slight decrease in trading at the beginning of the day.
Brent crude fell 0.6% to about $115 a barrel on Tuesday, according to Reuters.
It is claimed that this reduction is influenced by diplomatic efforts to end the Iran war.
However, concerns remain about attacks on merchant ships and the security of the Strait of Hormuz.
Before the war, the Strait of Hormuz was the passage for about a fifth of the world's energy supply.