Oil prices eased Monday after the United States and Iran reached a tentative agreement to extend their ceasefire and reopen the Strait of Hormuz, the Associated Press reported.

AP reported that Brent crude fell 4.8% to $83.17 per barrel, a drop from prices above $100 just a few weeks ago but still higher than the roughly $70 level seen before the war. The market reaction was immediate, with stocks rising as investors hoped lower energy costs could ease pressure on households and businesses.

The deal is not final. AP reported that negotiations over Iran's nuclear program are expected to continue for 60 days, and energy supplies could take months to return to normal even if the Strait of Hormuz fully reopens.

For Santee residents, the most practical local impact is fuel. Drivers who commute on SR-52, SR-67 and I-8 may not see lower pump prices right away, but sustained crude-price relief can eventually work its way into gasoline, delivery and business costs. The key question is whether the deal holds long enough for energy markets to stabilize.