Hormuz2 tankers carrying nearly 2 million barrels crossed Monday, the first tracked traffic since the war.
The US granted Iran a 60-day sanctions waiver permitting almost any buyer to purchase Iranian crude; Brent fell 3% before stabilizing near $78.
The waiver holds for 60 days; disputed nuclear-inspection terms remain unresolved.
Sources: Khaleej times, Yahoo! Finance, mint, The Straits Times, GEO TV