Asian Markets Jump & Oil Prices Decline

TOKYO (AP) — Asian shares are surging as oil prices plunged after the U.S. and Iran agreed to a two-week ceasefire that includes the reopening of the Strait of Hormuz. Benchmarks rose in Wednesday trading in Japan, Australia, South Korea and China. Oil prices plunged below $100 a barrel. Prices had surged since the start of the war, which had effectively blocked passage through the strait crucial to global oil supplies.