The US and Iran have reportedly reached a peace deal, triggering a significant drop in oil prices and a surge in risk assets. Reports indicate the US will halt its blockade of Iran and reopen the strategically vital Strait of Hormuz. This easing of tensions in the Middle East has immediately impacted global energy markets, with oil experiencing a substantial decline. The development is expected to benefit economies reliant on oil imports and encourage investment in riskier ventures. Analysts suggest the deal signals a potential de-escalation of conflict in the region, fostering greater stability. Further details regarding the specifics of the agreement are still emerging, but the initial market reaction has been overwhelmingly positive. The dollar has weakened, hitting a 10-day low, reflecting the shift in investor sentiment.