Lead

Global stock markets rallied and oil prices fell sharply after Washington and Tehran confirmed a deal to end the US-Israel war on Iran and reopen the Strait of Hormuz. The agreement, announced by US President Donald Trump on Sunday, has been confirmed by Iran's Supreme National Security Council and the Iranian Deputy Minister of Foreign Affairs, Kazem Gharibabadi.

Coverage Comparison

Reports from Al Jazeera provide a detailed picture of market reactions across the globe, with some variations in the timing and magnitude of the moves. One report, focusing on Asian markets, noted that Japan's Nikkei 225 surged 4.5 percent and South Korea's Kospi jumped 5.7 percent shortly after markets opened on Monday, while Australia's ASX 200 rose about 1.5 percent. Another report highlighted that Wall Street's S&P 500 rose 1.7 percent on Monday, taking the benchmark index within touching distance of its all-time high, with the tech-heavy Nasdaq Composite jumping 3.1 percent. A separate report described Wall Street's S&P 500 finishing nearly 1.8 percent higher on Thursday, ending a three-day losing streak with its biggest single-day gain since April.

Oil prices also reflected the market's optimism, though the reported declines varied. One Al Jazeera report said Brent crude futures fell nearly 5 percent to just above $83 a barrel, the lowest price since the first week of the conflict. Another report noted Brent crude fell more than 4 percent in Asian trading, while a third mentioned a drop of about 1 percent to below $89.50 a barrel. A fourth report described Brent crude dropping as much as 1.6 percent on Thursday morning.

The reports also note that about 500 ships are still waiting to pass through the Strait of Hormuz, which in peacetime carries about one-fifth of global energy supplies.

Key Claims

  • The S&P 500 rose 1.7 percent on Monday, according to Al Jazeera.
  • The Nasdaq Composite jumped 3.1 percent, aided by a 19.6 percent gain by SpaceX, as reported by Al Jazeera.
  • Brent crude futures fell nearly 5 percent to just above $83 a barrel, according to Al Jazeera.
  • Asian stock markets were largely flat on Monday morning after surging the previous day, as reported by Al Jazeera.
  • About 500 ships are still waiting to pass through the Strait of Hormuz, according to Al Jazeera.
  • Japan's Nikkei 225 benchmark index surged 4.5 percent shortly after markets opened on Monday, as reported by Al Jazeera.
  • South Korea's Kospi jumped 5.7 percent, according to Al Jazeera.
  • US President Donald Trump announced the ceasefire deal in a social media post on Sunday, as reported by Al Jazeera.
  • Iran's Supreme National Security Council confirmed the deal, according to Al Jazeera.
  • Wall Street's benchmark S&P 500 index finished nearly 1.8 percent higher on Thursday, as reported by Al Jazeera.
  • The Nasdaq Composite jumped 2.5 percent, according to Al Jazeera.
  • Brent crude fell about 1 percent to below $89.50 a barrel, as reported by Al Jazeera.
  • Pakistani Prime Minister Shehbaz Sharif mediated the negotiations between Washington and Tehran, according to Al Jazeera.
  • The US and Iran signed an interim peace agreement, as reported by Al Jazeera.
  • Brent crude dropped as much as 1.6 percent, according to Al Jazeera.

Perspectives

Trump Administration

President Donald Trump announced the deal in a social media post, saying he had authorized the toll-free reopening of the Strait of Hormuz and the immediate removal of the US naval blockade of Iranian ports. "Ships of the World, start your engines," Trump wrote on Truth Social. "Let the oil flow!"

Iranian Government

Iran's Supreme National Security Council and Deputy Minister of Foreign Affairs Kazem Gharibabadi confirmed that the sides had finalized the agreement, according to Al Jazeera.