Global crude oil prices fell another 4.8% to nearly 80 U.S. dollars per barrel after the United States and Iran reached a new agreement, which helped propel stock markets to surge worldwide.
On Monday, 15 Jun 2026 GMT+7, global stock markets rose enthusiastically as oil prices began to soften following a preliminary agreement between the U.S. and Iran to extend the ceasefire and reopen the Strait of Hormuz, allowing global crude oil transportation to resume normally.
The S&P 500 index rose 1.7% on hopes that the U.S.-Iran agreement would provide a long-term solution to the conflict that had worsened global inflation. Meanwhile, the Dow Jones surged 468 points, or 0.9%, reaching a historic high, and the Nasdaq Composite soared 3.1%.
Stock markets were supported after Brent crude oil prices dropped 4.8% to 83.17 U.S. dollars per barrel, a level last seen in early March. Although this price remains above the pre-war level of about 70 U.S. dollars, it is notably lower than the over 100 U.S. dollars seen just weeks ago.
It is expected that the lower oil prices will ease pressure on households and businesses burdened by rising costs across food, fuel, and fertilizer, all impacted by the war with Iran.
"The agreement to reopen the Strait of Hormuz is sparking a broad recovery on Wall Street as the week begins," said a note from Jose Torres of Interactive Brokers.
"The risk-on investment sentiment is very strong... as traders see this as an effective signal to end the military conflict between the U.S. and Iran," Torres added.
The peace agreement, which is actually a memorandum of understanding (MOU), is scheduled for formal signing at a ceremony in Switzerland this Friday. Its aim is to end the three-month-long conflict that had repeatedly raised fears of prolonged high inflation.
In international markets, stock indexes rose across Asia and Europe. Japan’s Nikkei 225 surged 5%, marking one of the highest increases globally and closing at a record high.
South Korea’s KOSPI index rose even more sharply, up 5.2%, partly driven by continuous gains in AI-related stocks such as Samsung Electronics.
However, London’s FTSE 100 index moved in the opposite direction, declining 0.4%.
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Source:apnews