Oil prices fell and Asian stocks climbed on Monday over hopes a deal between the United States and Iran to open the Strait of Hormuz could be brokered.

Sunday's market showed oil prices dropping after world leaders signaled that Washington and Tehran were close to reaching an agreement to end the war.

Trump said on Saturday that a deal would include the reopening of the Strait of Hormuz, without giving further details.

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Trump said on Saturday that an agreement would include the reopening of the Strait of Hormuz, without giving further details.

Japan’s Nikkei 225 breached 64,000 for the first time Monday as a sharp decline in oil prices lifted risk sentiment in holiday-thinned trading.

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Stock futures were rising late Sunday, and oil futures fell after the Trump administration hinted officials are inching closer to a deal with Iran to end the three-month conflict and reopen the Strait of Hormuz.