Asian stocks rise on Iran deal hopes amid oil surge, European markets fall

Asian markets rose Monday tracking Wall Street's record close, with Tokyo up 0.6% to 58,824.89 and Hong Kong gaining 0.8% to 26,361.07, as hopes persisted for an Iran-US deal despite Tehran skipping peace talks and closing the Strait of Hormuz over the weekend. Oil prices jumped with Brent at $95.96/bbl and WTI at $89.27/bbl, while London and Frankfurt fell.

For Nigeria as Africa's top oil producer, higher crude prices could boost government revenue and forex reserves, but the Strait of Hormuz blockade—vital for global oil shipments—creates supply disruption risks that may trigger volatility. Iran's refusal to transfer its enriched uranium stockpile remains a key sticking point in negotiations.

Will you adjust your business forecasts or personal budget for potential oil price swings, or monitor how prolonged Middle East tensions might affect naira stability and import costs in the coming weeks?

SOURCE: https://www.channelstv.com/2026/04/20/iran-war-stocks-up-on-peace-hope/