India, June 15 -- Crude oil prices dropped sharply after the United States and Iran announced a framework agreement to end the war. US President Donald Trump said the agreement would help reopen the important Strait of Hormuz shipping route. After the news, Brent crude oil prices fell 4.7% to $83.24 per barrel. Stock markets around the world reacted positively, with share prices rising in Asia and Europe.

Pakistan, which helped bring the US and Iran together for talks, said the official signing ceremony is expected to take place on June 19 in Switzerland. Iran's Deputy Foreign Minister, Kazem Gharibabadi, also confirmed on state television that the agreement with the US had been finalized. Trump also celebrated the development on social ...