Oil plunges, Asian stocks up on Trump ceasefire claim

Oil plunges, Asian stocks up on Trump ceasefire claim Oil plunges, Asian stocks up on Trump ceasefire claim

TOKYO — Oil prices plunged and Asian stocks rose sharply on Tuesday, after U.S. President Donald Trump announced a ceasefire between Israel and Iran.

The price of Brent crude, the international benchmark, opened Asian trading down more than 3% to trade below $70 per barrel. The drop came on top of a 7% drop in Monday trading, its biggest fall since March 2022.