A tentative framework agreement between the United States and Iran sent shockwaves through global markets over the weekend, triggering a broad rally in Asian equities and dragging oil prices sharply lower. Bitcoin, ever the barometer of macro risk appetite, caught the wave too, surging to its highest level in nearly two weeks.
The agreement, announced on June 14-15, aims to end hostilities between Washington and Tehran and potentially reopen the Strait of Hormuz, one of the most critical chokepoints for global energy supply. A formal signing is planned for Friday in Switzerland.
The numbers tell the story
Japan’s Nikkei 225 climbed as much as 5.5%. South Korea’s Kospi did even better, gaining up to 5.7%. Markets in Australia, China, and Taiwan all posted notable gains as traders rushed to reprice geopolitical risk.
On the energy side, Brent crude fell more than 4%, dropping toward $83 per barrel.
