Oil prices tumble after US, Iran agree to end war, reopen Hormuz

Prices slip even as analysts warn flows may be slow to recover and remain vulnerable to renewed disruption

Grain futures declined in Chicago as a potential reopening of the Strait of Hormuz could improve access to vital crop inputs, helping to ease the threats to food inflation brought on by the months-long war.

Asian stocks rallied Monday while oil prices tumbled after the U.S. and Iran agreed to a peace deal aimed at ending nearly four months of conflict.