Asian Stocks Rebound and Oil Prices Fall as Iran Ends Attacks on Israel

Asian stocks rebounded on Tuesday after Iran said it was ending its attacks on Israel, easing some of the immediate fear that had rattled markets a day earlier. Oil prices also fell back from their earlier highs, as investors moved away from the most defensive positions after the announcement of de-escalation.

The recovery followed a volatile Monday session, when renewed fighting between Iran and Israel sent markets into a risk-off mood. According to asharq al-awsat, Brent crude briefly surged by more than 5% after the exchange of fire, before giving up most of those gains later in the day when Iran announced the cessation of its attacks on Israel.