Oil prices drop sharply after the United States and Iran agree to halt hostilities and reopen the Strait of Hormuz, according to multiple reports. Investing.com and other outlets describe the agreement as ending a period of heightened conflict risk that has disrupted or threatened energy flows through one of the world’s most important shipping chokepoints. Free Malaysia Today reports that the announcement leads to a rapid fall in crude prices, with Brent futures down about 4% in early trading, while Asian stock markets rise. The Express Tribune characterizes the accord as a major breakthrough in efforts to resolve a conflict that has reportedly killed thousands and has contributed to volatility in global energy markets. Another outlet similarly reports that oil prices sink further after the US and Iran sign an agreement tied to reopening the strait. Across sources, the common theme is that the deal reduces uncertainty over Middle East shipping and supply risks, prompting immediate market reaction in oil and broader financial markets. All reports reference the reopening of Hormuz as a key element of the agreement.