Oil Falls To $80 As US-Iran Peace Deal Nears; Asian Markets Mixed

Oil prices cooled off further to touch $80 per barrel mark after the United States and Iran signed a memorandum of understanding aimed at ending the ongoing war. The breakthrough is expected to bring significant relief in the opening of the Strait of Hormuz, which has been closed since the beginning of the war in late February 2026.

Speaking alongside French President Emmanuel Macron on the sidelines of the G7 Summit, Trump said the deal with Iran was “all signed”, and a formal signing ceremony would take place in Geneva, Switzerland on June 19, which will be attended by Vice President JD Vance.

Asian Markets Remain Mixed

Asian markets traded mixed on Monday, with South Korea and Taiwan leading gains while Hong Kong slipped into negative territory. South Korea’s KOSPI rose

1.02% to 8,633.22, adding 87.24 points, supported by broad-based buying. Taiwan’s benchmark TAIEX also advanced 0.43% to 45,593.14, gaining 196.15 points during the session.

Japan’s Nikkei 225 edged lower by 0.12%, or 80.11 points, to 69,237.39. The index touched an intraday high of 69,620.64, which also marked its 52-week high, before paring gains. Meanwhile, Hong Kong’s Hang Seng Index declined 0.99% to 24,597.92, shedding 244.75 points as selling pressure weighed on the market.

Among key regional indices, the KOSPI remained close to its 52-week high of 8,933.62, while the TAIEX traded near record levels with a 52-week high of 46,552.16. Investors continued to monitor global market cues and regional economic developments for direction.