BANGKOK (AP) — Share prices soared Monday in Asia after a deal was announced on ending the Iran war and reopening the Strait of Hormuz.
Benchmarks in Tokyo and Seoul gained more than 5% early Monday. Oil prices fell more than $3 a barrel.
U.S. President Donald Trump confirmed the deal and authorized an end to the U.S. naval blockade of Iranian ports. But it may take months for oil prices to stabilize after the disruptions from the war caused them to surge, pushing costs up gasoline and many other products.
