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A tentative deal between the United States and Iran to extend a cease‑fire and reopen the Strait of Hormuz lifted hopes for energy‑market stability, prompting gains across U.S. and Asian equity indexes.
Brent crude fell about 5% to just above $83 a barrel, a decline that helped ease inflation pressures but remains above pre‑conflict levels.
Technology, especially AI‑related stocks, saw strong gains, with SpaceX up 19.6% and chip makers Micron, AMD, and Nvidia each posting double‑digit increases.
While the deal is expected to allow the strait to reopen soon, analysts say it could take months for oil flows to normalize because about 500 ships are still waiting to pass through.
Investor sentiment turned more positive, with risk appetite increasing as the perceived geopolitical risk of the Iran‑U.S. conflict receded.