(Bloomberg) -- Oil held losses after tumbling the most in more than two weeks on Monday as the US and Iran agreed to reopen the Strait of Hormuz, easing concerns over energy supplies and fueling a global equity rally. Stocks in Asia were set for a mixed open.

(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.

Stock markets rallied worldwide, and oil prices eased after the United States and Iran reached a tentative deal to get the global flow of crude going again