17 hours ago
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BANGKOK (AP) — Share prices soared Monday in Asia after a deal was announced on ending the Iran war and reopening the Strait of Hormuz.
Benchmarks in Tokyo and Seoul gained more than 5% early Monday. Oil prices fell more than $3 a barrel.
The future for the S&P 500 was up 1% and that for the Dow Jones Industrial Average gained 0.8%, auguring early gains for Wall Street.
U.S. President Donald Trump confirmed the initial agreement and authorized an end to the U.S. naval blockade of Iranian ports.
Iran confirmed the agreement but signaled that implementation would not start until a signing that Pakistan said would be held Friday in Switzerland. Broader negotiations on issues like Iran’s nuclear program are expected to continue over the next 60 days.
In early trading Monday, the price of Brent crude oil, the international standard, fell $3.45 to $83.88 per barrel. U.S. benchmark crude lost $3.95 to $80.93 per barrel.
But it may take months for oil prices to stabilize after the disruptions from the war caused them to surge, pushing costs ...
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