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Asian stock markets experienced a significant surge on Tuesday, while oil prices declined, as renewed hopes for ceasefire talks between the United States and Iran brought relief to global markets. US President Donald Trump announced that Iranian officials had reached out to his administration, expressing their openness to a deal.The positive turn for markets came after Trump's remarks at the White House, where he stated, 'We've been called by the other side, and they would like to make a deal very badly.' This development led to gains in major Asian markets, including Japan's Nikkei 225, which rose as much as 2.5 percent, and South Korea's KOSPI, which gained about 3.7 percent. Singapore's Straits Times Index also climbed about 0.6 percent, while Hong Kong's Hang Seng Index was up about 0.4 percent in the early afternoon, and the SSE Composite Index in Shanghai was about 0.5 percent higher.The rally in Asia followed gains on Wall Street, with the benchmark S&P; 500 finishing up 1 percent overnight. Meanwhile, Brent crude, the benchmark for global oil prices, dipped nearly 1.5 percent, falling below $98 a barrel. This decline in oil prices occurred despite the US imposing a naval blockade on Iranian ports, a move that analysts warn could exacerbate the energy shortage affecting the global economy.Iran has effectively halted shipping through the Strait of Hormuz since the start of the conflict on February 28, significantly impacting the global energy market. Only 21 vessels transited the strait on Sunday, compared to roughly 130 daily transits before the conflict began, according to maritime intelligence provider Windward.

World Athletics has announced the postponement of the Doha Diamond League, citing concerns for athlete and spectator safety as the US-Israel war on Iran continues to impact the Middle East. The event, originally scheduled for May 8, has been rescheduled for June 19, pending a favorable safety and security situation in the region.The decision to postpone the event was made in the interest of ensuring a safe and secure competition for athletes, media, and spectators. World Athletics has been closely monitoring the situation in Doha and working with local organizers, Qatari authorities, and other stakeholders to assess the risks.The escalating tensions in the Middle East, including missile and drone attacks on Gulf states, have prompted the postponement. Despite a two-week ceasefire deal between Iran and the United States, mediated by Pakistan, the region remains volatile.The Doha Diamond League will now take place at the Khalifa International Stadium, a temperature-regulated venue with air cooling vents, which previously hosted the World Athletics Championships in 2019 and the FIFA World Cup 2022.The event is part of the 2026 Wanda Diamond League season, which will begin in Shanghai on May 16 and conclude with the Diamond League final in Brussels on September 5. The Doha meeting will be the eighth leg of the season, falling between the Bislett Games in Oslo on June 10 and the Meeting de Paris on June 28.

Former Brazilian international Oscar has been forced to retire from professional football at the age of 34 due to cardiac problems, his club São Paulo confirmed on Saturday.The attacking midfielder had to spend five days in hospital after fainting during a routine medical in November, following which he was diagnosed with vasovagal syncope, a condition caused by a sudden drop in blood pressure, heart rate, and cerebral blood flow.Oscar, who had a contract set to expire in 2027, expressed his sentiments on retiring, stating, “I am ending a career here in São Paulo that has taken me practically to the four corners of the world,” in a club statement.During his career, Oscar played for prominent clubs including Chelsea and Shanghai Port. With Chelsea, he won two Premier League titles and the Europa League. In China, he secured three Chinese Super League titles with Shanghai.Oscar also had an illustrious international career, earning 48 caps for Brazil, winning the Confederations Cup, and playing in the 2014 World Cup on home soil.

Oil prices experienced a significant surge, rising more than $5, after President Donald Trump stated that the United States would continue its military operations against Iran. This development has heightened investor concerns about potential sustained disruptions to global oil supplies.Brent crude futures saw a notable increase, rising $6.33, or 6.3%, to $107.49 per barrel early on Thursday. Similarly, US West Texas Intermediate crude futures were up $5.28, or 5.3%, to $105.40 per barrel. These gains followed an earlier decline of more than $1 in both benchmarks prior to Trump's televised address to the nation.The recent escalation in tensions between the US and Iran has led to the closure of the Strait of Hormuz by Iran, in retaliation for the US-Israeli attacks. This strategic move has disrupted approximately one-fifth of global oil and liquefied natural gas (LNG) supplies, precipitating the world's most significant energy crisis in decades.Trump emphasized that the US military is nearing its objectives in the conflict, which he expects to conclude within two to three weeks. His remarks have contributed to increased uncertainty in financial markets.Asian stocks were severely impacted following Trump's speech. Most Southeast Asian countries, which heavily rely on oil imports, are particularly vulnerable to the sharp rise in oil prices triggered by the Middle East conflict. The MSCI gauge of EM Asia equities experienced a 2.3% decline, while regional currencies weakened by 0.2%.Notably, South Korea's main stock market, the Korea Composite Stock Price Index (KOSPI), plummeted by 4.2% after initially gaining nearly 2%. South Korean President Lee Jae Myung urged parliament to promptly pass a 26.2 trillion won ($17.3bn) supplementary budget to bolster the economy during what he described as the worst energy security threat caused by the Middle East crisis.Other Asian markets also saw significant declines, with Singapore's main stock market, the Singapore Exchange (SGX), slipping 0.8%, and Malaysia's benchmark index falling 1%. Markets in Indonesia and Taiwan declined by about 1% and 1.4%, respectively. Stocks in China and Hong Kong also fell, with the benchmark Shanghai Composite index dropping 0.53% and China's blue-chip CSI300 Index losing 0.74%.

The Alpine F1 team has strongly condemned the online abuse directed at drivers Franco Colapinto and Esteban Ocon following recent incidents in the Japanese and Chinese Grands Prix. Colapinto was involved in a high-speed crash with Oliver Bearman at Suzuka, while Ocon accepted blame for a clash with Colapinto in Shanghai.The team dismissed suspicions of sabotage and claims that Colapinto was not provided with the same quality equipment as his teammate Pierre Gasly. Alpine emphasized that such hateful behavior is unacceptable and not in the spirit of the sport.“Esteban took full responsibility and apologised to Franco, seeking him out in the media pen and also apologising on social media. The resulting abuse that followed was not in the spirit of the sport and it was an oversight not to call it out sooner,” the team said.Alpine also addressed concerns about their treatment of drivers, stating that any questions about sabotage or unequal treatment are unfounded. The team aims to be transparent about upgrades and performance, emphasizing that it is not in their interests to withhold information or hinder performance.The team also highlighted that Gasly has scored 15 of Alpine’s 16 points this season, with Colapinto’s lone point scored in China. Alpine reiterated its commitment to fair treatment of all drivers and condemned the hateful messages aimed at Colapinto and Ocon.