Shippers in Asia and Europe said rebuilding confidence in resuming transit through the Strait of Hormuz could take weeks.

Asian stock markets surge as Washington and Tehran announce agreement to end hostiles and reopen Strait of Hormuz.

Japan’s Nikkei index soared 4.4 per cent, while Australia’s S&P/ASX 200 rose 1.3 per cent. Read more at straitstimes.com. Read more at straitstimes.com.

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