Crude has round-tripped much of its wartime spike as Gulf shipping resumes, but the weekend's strikes show how fragile the relief is.

Brent crude fell to $75.79 on Wednesday, its lowest since the eve of the Iran war, as the Strait of Hormuz reopened and Iranian barrels flowed back to market.

A confirmed truce between Washington and Tehran sent Asia-Pacific shares to records and knocked oil lower, handing central banks a sliver of relief days before the Fed decides on rates.