International crude oil prices have declined following the reopening of the Hormuz Strait for oil tankers. This development follows the signing of a memorandum of understanding between the United States and Iran. The price drop is attributed to expectations of an increased supply of oil in the global market. As of Friday, Brent crude futures fell by 54 cents, or 0.68 percent, reaching $78.31 per barrel. The market reaction reflects a shift in supply dynamics after the strategic waterway was cleared for transit. These fluctuations occur amidst a broader context of currency strength and geopolitical negotiations.