US President Trump says the Strait of Hormuz would reopen on Friday after a deal with Iran, sending oil prices tumbling.

(Bloomberg) -- Stocks rallied, oil slumped and the dollar fell after the US and Iran said they had reached a deal to reopen the Strait of Hormuz.

Asian stock markets surge as Washington and Tehran announce breakthrough in talks to reopen Strait of Hormuz.

Oil prices tumble as benchmarks in Tokyo and Seoul gain over 5% amid easing geopolitical tensions

Asian shares climb with Japan’s Nikkei nearing record close