Pakistan said the United States and Iran agreed to a peace deal and an "immediate and permanent" end to military operations on all fronts, including Lebanon.
A woman walks past an electronic quotation board displaying the Nikkei Stock Average on the Tokyo Stock Exchange along a street in Tokyo on June 1, 2026. (AFP/Kazuhiro Nogi)
Oil prices plunged more than four percent Monday, while Asian stocks soared in early trade after the United States and Iran announced they had reached an agreement to end the conflict in the Middle East.At 00:45 GMT, US benchmark West Texas Intermediate was down 4.70 percent at US$80.89 a barrel and North Sea Brent Crude sunk 4.03 percent to 83.81 percent.
Meanwhile, Japan's Nikkei 225 index jumped 4.99 percent and South Korea's benchmark Kospi index soared 5.54 percent.
That came after mediator Pakistan said the United States and Iran agreed to a peace deal and an "immediate and permanent" end to military operations on all fronts, including Lebanon.
