Asian oil falls 5% as market hopes for Iran‑US ceasefire.

In Asian early trading, oil prices fell 5% as the market’s expectation of a cease‑fire agreement between Iran and the United States to end the war sparked optimism. The news made investors optimistic about the outlook for the global energy market, which in turn drove the decline in oil prices. The tense relationship between Iran and the United States has long been a key focus of the global energy market, and any peaceful progress between the two countries could have a major impact