Share markets surged in Asia on Monday while the dollar slipped and oil prices slid as news the United States had agreed to a peace deal with Iran boosted risk sentiment and promised to ease inflationary pressures globally.
The U.S.-Iran deal ending months of fighting and reopening the Strait of Hormuz will prompt a collective sigh of relief from energy exporters and importers alike. But the fragile calm may not prevent future flare-ups, casting doubt over how quickly – or fully – tanker traffic through the vital waterway can return to normal.