Now that Iran and the United States have reached a memorandum of understanding to end direct hostilities, especially in the contested Strait of Hormuz, the big question is how quickly inflated oil prices will come down. Benchmark crude prices were still trending lower on Monday on news of the agreement, with Brent contracts for August trading at $83 a barrel. That’s still a lot higher than benchmark crude was before the war but far less than the triple-digit prices reached during peak moments