Stock markets soar, oil falls as US, Iran confirm deal to end war

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Stock markets across Asia jumped sharply after the US and Iran announced a deal to end hostilities and reopen the Strait of Hormuz, a critical waterway for global oil shipments. Oil prices fell in response to the agreement, which reduces the geopolitical risk premium that had kept crude elevated. The deal marks a major shift in the long-running tensions between Washington and Tehran. Market analysts attributed the rally to relief over avoided escalation and the prospect of restored stability in one of the world's most strategically important regions. Both nations confirmed the agreement through official channels, though details on implementation remain to be disclosed.