US-Iran Deal Sends Oil Prices Tumbling

The United States and Iran have agreed to a peace deal, ending nearly four months of conflict and lifting the U.S. blockade on Iran. The agreement includes the reopening of the Strait of Hormuz, a critical shipping lane for global oil and gas exports. Oil prices fell sharply on Monday, with Brent crude dropping more than 4% to $83.82 per barrel, while U.S. crude futures declined nearly 5% to $80.83 per barrel. Asian stock markets surged in response, with South Korea's Kospi jumping 5.1% and Japan's Nikkei 225 climbing 3.6%. The U.S. dollar weakened against major currencies, including the euro and yen, as investors shifted toward riskier assets. President Donald Trump confirmed the deal but cautioned that if Iran fails to reach a final nuclear accord, the U.S. could restart military attacks or assume a dominant role in the Middle East. Analysts noted that while the deal is a positive development, the full impact on oil prices and global markets will take time to materialize, with some predicting a gradual return to pre-conflict levels rather than an immediate drop.