Dubai (HRNW): Global crude oil prices declined while Asian stock markets recorded strong gains following reports of a peace agreement between the United States and Iran.
According to Arab media reports, Brent crude fell by 2.3%, bringing prices down to around $77.73 per barrel, after previously rising above $81 per barrel amid regional tensions.
Asian equity markets responded positively to the development. Japan’s Nikkei 225 and South Korea’s KOSPI index climbed sharply, rising by 2% and 1.7% respectively, reaching near record levels.
Taiwan’s market also gained 1.3%, while Hong Kong’s Hang Seng Index declined by 1.7%, showing mixed regional sentiment.
US stock futures also moved higher, rising by up to 1.3% in early trading.
Reports suggest the agreement may include reopening the Strait of Hormuz and easing maritime restrictions, although shipping companies say the situation remains uncertain and risks persist.
The International Energy Agency estimates that during the crisis, global supply was reduced by nearly 14 million barrels per day.
Analysts say markets have reacted positively to the development, but full global economic recovery is expected to take time.
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Important Note (Disclaimer)
This report is based on international media sources. Final confirmation of the agreement and its implications will depend on official statements from the relevant governments and institutions. HRNW remains committed to neutral and responsible reporting.
