Oil prices slide after Pakistan announces deal between US and Iran (opens original article in a new tab)

Oil prices declined in Asian markets following Pakistan's announcement of a US-Iran deal to reopen the Strait of Hormuz, with Brent crude down 4% and Asian stock indices rising.

• Oil prices fell in Asia after Pakistan announced a US-Iran deal to reopen the Strait of Hormuz
• Brent crude dropped 4% to $83.81 a barrel, US-traded oil fell 4.7% to $80.89
• Asian stock markets rose as investors welcomed the deal, with Japan's Nikkei 225 up 4.3% and South Korea's Kospi over 5%