Goldman Sachs lowered its oil price forecasts after President Trump announced an interim deal that would lift the U.S. blockade and reopen the Strait of Hormuz following a scheduled signing on Friday, with the bank now assuming Persian Gulf exports normalize to pre-war levels by the end of July, a month earlier than its prior assumption of end-August.

 Oil prices rebounded on Tuesday on concerns about the lack of details in a preliminary agreement ending the war between the U.S. and Iran and the realization the resumption of supply through the key Strait of Hormuz may take longer than thought.

Asian stocks were a mixed bag on Tuesday with Japanese markets hitting record highs after the Bank of Japan raised interest rates as expected.

Asian stocks rose sharply on Monday as markets cheered the U.S. and Iran agreeing to a preliminary peace deal, with Japanese shares hitting record highs before a Bank of Japan meeting this week.

 U.S. consumer sentiment bounced off record lows in early June as easing gasoline prices offered households some relief, though concerns about inflation stoked by the Middle East conflict lingered.

Oil prices slipped to a three-month low on Monday after U.S. President Donald Trump and Iran’s deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.