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Market Chatter: US, Iran Deal to End War Sparks Oil Selloff, Lifts Global Equities

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The United States and Iran reached a framework agreement to end their conflict and reopen the Strait of Hormuz, triggering a more than 4% decline in Brent crude prices and lifting Asian stock markets, Reuters reported Monday.

US President Donald Trump said the agreement includes reopening the Strait of Hormuz and ending the US blockade of Iranian ports. Broader talks on sanctions relief and Tehran's nuclear program are set to take place during a 60 day ceasefire period, according to the report.

Pakistani Prime Minister Shehbaz Sharif, who helped mediate the talks, said the agreement calls for an immediate and permanent ceasefire, with a formal signing scheduled in Switzerland on Friday, Reuters added.

Despite ongoing tensions involving Lebanon, Israeli Defense Minister Israel Katz said Israeli forces would remain in security zones in Lebanon, Syria and Gaza, and warned of a forceful response to any Iranian attack.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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