Shares surge, oil skids in Asia on Gulf deal

Share markets surged in Asia on Monday while the dollar slipped and oil prices tumbled as a tentative ​peace deal between the United States and Iran promised to ease inflationary pressures globally and lessen the need for higher interest rates. Pakistani Prime Minister Shehbaz ‌Sharif said on social media early on Monday that a deal had been struck, while President Donald Trump said the agreement included opening the vital Strait of Hormuz, though without giving details. Trump will meet with Middle Eastern leaders and attend a working session with Ukrainian President Volodymyr Zelenskiy during a G7 summit in France this week.