HONG KONG, April 14 -- Stocks rose and oil fell Tuesday on hopes for a deal to end the Middle East war and reopen the Strait of Hormuz, with Donald Trump saying Tehran had called to seek an agreement even as a US naval blockade around Iran's ports began.

While weekend peace talks in Pakistan ended with no deal, investors took heart from the fact that the two sides found some areas of agreement, with Iran saying they had been "inches away" at one point.

Soon after, the US president said the military would blockade the strategic Strait - through which a fifth of global oil and gases passes - adding to fears for energy supplies from the Middle East.

The US military clarified it would begin blockading all Iranian ports in the Gulf from Mon...