Oil tankers have started sailing through the Strait of Hormuz after the United States lifted its blockade on Iran on Thursday as an interim deal to end the three-month war took effect.

Shares have surged in Asia, with benchmarks in Japan and South Korea setting fresh records, after the U.S. and Iran signed their initial agreement ending the war.

The interim peace deal extends a ceasefire announced in April by another 60 days, to allow the two sides to negotiate a final truce.