Oil prices have fallen sharply, while Asian stock markets have risen amid hopes for a deal that could end the conflict between the US, Israel and Iran.
US President Donald Trump declared that the deal with Tehran is “largely negotiated,” but then asked his team not to rush into finalizing it.
On Monday morning, Brent crude fell 5.5% to $97.90, while U.S. crude fell 5.8% to $90.99.
Trump said the deal would also include the reopening of the Strait of Hormuz, a strategic route through which about a fifth of the world’s oil and liquefied natural gas passes.
Meanwhile, Japan’s Nikkei 225 index rose 2.9%, surpassing the 65,000-point mark for the first time, on optimism about the reopening of the strait.