Oil prices drop over 4% while copper and regional equities surge after the weekend deal eases supply concerns.
A U.S.-Iran peace agreement announced over the weekend triggered a broad market rally, with MSCI’s Asia-Pacific shares index climbing 3%. Japan’s Nikkei 225 reached a record high as the reopening of the Strait of Hormuz eased supply fears, sending oil prices down more than 4% and boosting copper.
Cryptocurrencies showed muted reactions, with the CoinDesk 20 Index (CD20) up just 2.4% over 24 hours. Traders remained cautious, citing skepticism over the truce’s longevity. Meanwhile, decentralized AI tokens like Venice’s VVV and Morpheus’s MOR surged on censorship-resistance narratives after Anthropic restricted access to advanced models.
The deal provided a catalyst for risk assets, though crypto markets lacked strong directional bets, reflected in stable funding rates and low implied volatility.