Stock Markets Rise as U.S. and Iran May End War

Stock markets in Asia went up on Friday because investors think the United States and Iran might agree to stop their war. The two countries are working on a deal to extend their ceasefire for 60 more days. This news made many people feel hopeful about peace. Stock prices rose in most Asian countries because of this good news.

Oil prices went down a little bit on Friday morning. This happened because people think the war between the U.S. and Iran might end soon. However, oil still costs more money than it did before the war started. The Strait of Hormuz, an important waterway for oil ships, is still mostly closed to traffic.

Japan's stock market jumped up by 1.8% on Friday. South Korea's market did even better, going up 2.3%. Both of these countries have stock markets that are trading near their highest levels ever. Hong Kong's market went up slightly, while China's market went down a tiny bit.

On Thursday, officials from the U.S. and Iran talked about making a deal. They want to extend their ceasefire and have new talks about Iran's nuclear program. A U.S. official said they reached a tentative agreement. However, Iran has not said anything about this deal yet.

Oil experts are watching this situation very carefully. They think that if the Strait of Hormuz reopens, oil prices might go down more. This waterway is very important because many oil ships use it. The tentative deal says Iran cannot charge money to ships going through the strait.

Some experts warn that things might not get better right away. Ship owners might be scared to send their boats into the Persian Gulf at first. They worry the ceasefire might not work and fighting could start again. Also, it will take time for oil and gas production to get back to normal levels.