Global markets rallied Monday on the announced US-Iran framework as Brent crude dropped 4.7% to $83.24 (£61.94) a barrel after President 
Donald Trump committed to "the toll free opening of the Strait of Hormuz" upon Friday's signing. Asian stock markets surged: Japan's Nikkei 225 closed 5% higher and South Korea's KOSPI ended up 5.2%, with the region having absorbed the largest energy-cost pain during the prior 108-day conflict. Bitcoin neared $65K on the Hormuz reopening commitment, per Cointelegraph.
How big is the oil move? Brent crude fell 4.7% to $83.24 a barrel, per the BBC. The benchmark had been trading at around $70 before the war started, peaked at about $120 during the conflict, and now sits closer to the pre-war range — reversing several months of war-premium pricing.
Where's the Asia-side market read? Japan's Nikkei 225 closed 5% higher and South Korea's KOSPI ended up 5.2%. The region was hit particularly hard by higher energy prices given its reliance on the Middle East for oil and LNG. The 5%-tier single-day move is one of the largest Nikkei and KOSPI prints of 2026.
What about European equities? Germany's DAX and France's CAC 40 rose about 1.7%, with London's FTSE 100 up 0.6%. The smaller European response reflects less direct Middle East energy exposure and the prior week's already-priced-in Iran-deal-close framing.
What's the Bitcoin angle? Bitcoin neared $65K as Trump said Hormuz would "open to all", per Cointelegraph. CryptoSlate framed the move as the Hormuz reopening unwinding the prior war-risk discount, while flagging the upcoming Warsh-led Fed meeting as the next pivot point.
Why is the Warsh Fed meeting the next pivot? CryptoSlate flagged the first Warsh-chaired Fed meeting as the immediate next macro-risk, asking whether it would "kill the rally". The rate-policy track sits separately from the geopolitical-risk track, meaning the Iran-deal tailwind could be partially offset by a hawkish Fed.
What's the operational caveat? Energy-market experts warned that the movement of oil through the strait is unlikely to immediately return to pre-war levels, per the BBC. Andrew Lipow of Lipow Oil Associates said mines would first need to be cleared — meaning the physical recovery of oil flow lags the political-announcement window by weeks.
Figures referenced: Donald Trump. — JudgeMarket.
