BlockBeats News, June 12th. After U.S. President Trump called off a military strike against Iran for the third consecutive day and mentioned that a "peace agreement may be imminent," the global financial markets showed a significant response, with oil prices dropping and stocks rallying.

The international benchmark Brent crude oil price fell over 1% to around $89 per barrel; U.S. WTI crude oil also dropped by about 1%, settling at $87 per barrel. The market's focus is on whether the shipping risk in the Strait of Hormuz has eased, a strait that typically carries about one-fifth of global oil trade.

On the stock market side, Asian markets surged. The South Korean KOSPI index rose by over 8%, the Japanese Nikkei 225 index increased by nearly 4%, and the stock markets in China, Hong Kong, and Taiwan also saw widespread gains. U.S. stock futures likewise climbed, indicating a resurgence in risk appetite.

Meanwhile, U.S. gasoline prices saw a slight drop to an average of $4.13 per gallon, but still remained nearly 40% higher than before the conflict. Diesel prices also declined to $5.28 per gallon.

Analysts pointed out that despite the market's positive response to the easing of tensions, Iran has indicated that the negotiations have not yet been finalized, and the supply chain risk in the Strait of Hormuz remains a key variable influencing energy prices.