FLASH
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Oil prices have fallen sharply, while Asian stock markets have risen, following hopes of a deal that could end the war between the US, Israel and Iran, reports the BBC.
US President Donald Trump said on Saturday that a deal with Tehran was “largely negotiated” and that details were expected to be released soon. However, a day later he urged the US negotiating team not to rush to finalize the deal.
In Asian markets on Monday morning, Brent crude fell 5.5%, falling to $97.90 a barrel, while US crude fell 5.8%, to $90.99.
Trump had previously stated that the agreement would also include the reopening of the Strait of Hormuz, one of the most important sea routes for global energy transport.
About a fifth of the world's oil and liquefied natural gas usually passes through this strait, which has been virtually closed since the conflict began on February 28.
Meanwhile, Japan's Nikkei 225 index rose 2.9%, surpassing the 65,000-point mark for the first time, driven by optimism that traffic in the Strait of Hormuz could soon resume.
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