Global markets jump as U.S.-Iran peace deal sends oil down 5%

A peace deal between the United States and Iran has lifted market expectations that shipping through the Strait of Hormuz will stabilize, sharply reducing perceived risks to global energy supply. Oil prices fell 5% in a single session on the news. The sudden easing of geopolitical tensions directly compressed the risk premium priced into spot and futures crude, creating a clear and quantifiable short-term negative for oil assets.