Global equities rise and oil drops 5-6% on US-Iran Strait of Hormuz deal optimism. Bitcoin nears $82K as crypto tracks geopolitical risk sentiment.

Gulf stock markets rally on US-Iran peace deal expectations as oil prices drop sharply and Bitcoin climbs toward $83K, reflecting shifting geopolitical risk.

Global crude benchmark Brent fell as much as 5.2% to $98.12 a barrel, while West Texas Intermediate was near $92.

Crude oil prices plunged over 4% as optimism over a possible US-Iran deal and reopening of the Strait of Hormuz eased supply concerns.