Global oil prices experienced a significant drop, falling over 4%, following the announcement of a peace agreement between the United States and Iran. Asian stock markets also reacted positively to the news, indicating a broader easing of geopolitical tensions. The agreement aims to bring an end to the ongoing conflict between the two nations, a situation that has previously caused volatility in global energy markets. Analysts suggest the price decrease reflects expectations of increased oil supply and reduced risk premiums. This development offers potential relief to consumers facing high energy costs. Further details of the agreement are expected to be released in the coming days, outlining the specific terms and conditions of the peace accord. The market response signals a cautious optimism regarding regional stability.