(Bloomberg) -- Asian equities advanced and oil dropped after the US and Iran reached a tentative deal to extend their ceasefire.

Asian stocks saw gains moderate as US strikes in Iran overshadowed optimism for a potential deal. Crude oil advanced, reversing earlier declines, amid uncertainty over the Strait…

Asian stocks and oil futures were mixed on Tuesday after fresh US strikes on Iran threatened fragile negotiations to reopen the Hormuz strait.

Asian equities retreated from record highs as conflicting signals from the US and Iran on a potential peace deal emerged. Crude oil prices surged as the Strait of Hormuz remained…