Oil prices tumble and Asian shares surge as US and Iran near deal to end Middle East war (opens original article in a new tab)

Asian markets surged and oil prices fell as a tentative US-Iran peace deal emerged, potentially easing inflation and affecting global monetary policy decisions.

• Asian markets surged as oil prices tumbled following a tentative US-Iran peace deal
• The deal may reduce inflationary pressures and affect central bank interest rate decisions
• Iran plans joint regulation of the Strait of Hormuz with Oman, raising concerns about shipping rules