India, March 25 -- Oil prices dropped nearly 6% as US President Trump announced progress in Iran talks.

Asian markets rallied, with major indices showing significant gains.

Many energy-importing developing economies already under major strain.

Oil prices fell sharply and Asian equities gained on March 25, 2026, after reports that United States President Donald Trump had sent a peace proposal to Iran fuelled optimism that tensions in the Iran-Israel conflict could ease.

Trump said Washington and Tehran were "currently in negotiations" and suggested Iran was eager to strike a deal, although Iranian officials have denied holding direct talks with the US.

According to a New York Times report, market sentiment improved after Washington ha...