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Japan’s stock market surges to record high on hopes of an end to US-Israel war on Iran.

Oil prices have fallen sharply amid tentative hopes for a deal to end the US-Israel war on Iran.

Brent crude, the primary benchmark for global oil prices, fell about 5 percent on Sunday as US President Donald Trump gave mixed signals on the prospects for a permanent end to the conflict.

Brent futures for July stood at $98.47 a barrel as of 01:05 GMT, down about 9 percent from a month ago but still up by more than a third compared with before the start of the war.

Japan’s benchmark stock index, the Nikkei 225, surged more than 3 percent in morning trading, hitting an all-time high after closing at a record peak on Friday.

Trump said in a social media post on Sunday that negotiations with Tehran were proceeding in an “orderly and constructive manner”, but he had instructed officials “not to rush into a deal”.

“Both sides must take their time and get it right. There can be no mistakes!” Trump wrote on Truth Social.

Trump’s remarks came after he raised hopes for a breakthrough on Saturday by announcing that a deal had been “largely negotiated,” with the terms including the reopening of the Strait of Hormuz.

“Fundamentally, there is no change to the underlying picture, where 10-11 million barrels per day of crude oil continue to be shut-in for every day the Strait of Hormuz remains shut,” June Goh, a senior oil market analyst at Sparta in Singapore, told Al Jazeera.

“However, markets are expecting a gush of 100 million barrels of crude oil from the stranded ships to flow out once the deal is in place.”

Goh said markets are likely to remain on edge for some time after any deal is finalised.

“Sparta estimates still about three to six months required to get everything back to status quo, including time to bring production and refineries back online,” Goh said.

Iran has effectively blockaded the strait since the start of the war in late February, disrupting about one-fifth of the global oil trade.

The US has imposed its own blockade of Iranian ports since mid-April, further disrupting commercial shipping in the waterway.

In his Truth Social post on Sunday, Trump said the US blockade would remain “in full force and effect until an agreement is reached, certified, and signed”.

Rousey won the fight with her signature armbar lock, forcing Carano into submission just 17 seconds into the bout.

Mixed martial arts (MMA) star Ronda Rousey has re-retired after demolishing fellow combat sports trailblazer Gina Carano in their long-awaited non-title comeback bout in Los Angeles, defeating her rival by armbar after just 17 seconds.

After a hype-filled build-up, the bout on Saturday was a jarring anti-climax, with Rousey flooring Carano almost immediately before wrestling her into an armbar to end the fight.

American stars Rousey, 39, and Carano, 44, are widely regarded as two of the most important female fighters in the history of MMA, helping to take the sport into the mainstream during their fighting heydays more than a decade ago.

Carano had parlayed her success into a Hollywood career, appearing in several action movie roles, but had not fought since 2009 before her appearance in Saturday’s featherweight bout.

Rousey, a 2008 Olympics judo bronze medallist who subsequently found huge success in the Ultimate Fighting Championship (UFC), retired from the sport in 2016 after suffering back-to-back defeats against Amanda Nunes and Holly Holm.

The fighters were lured back into the cage for Saturday’s card at the Intuit Dome with the promise of a bumper payday that will reportedly see each fighter earn several million dollars from the streaming giant.

Rousey (13-2-0 MMA) secured her 10th submission win, returning to the cage following an exit from MMA in December 2016.

She insisted afterwards her return to the ring was a one-off and ruled out the possibility of fighting again after paying tribute to Carano.

“Gina is the only person who could have brought me back into MMA – she’s my hero,” Rousey said. “She changed my world, and we changed the world, and I’ll never ever forget that or be able to pay that back enough.

“I’m so glad we finally got to share this moment.”

Asked about possibly extending her comeback, Rousey added: “There’s no way I could have ended it better than this. I want to have some more babies, got to get cooking.”

Carano (7-2-0 MMA) ⁠⁠had been inactive in the sport since August 2009, returning to MMA after a conversation last year at Rousey’s encouragement. She admitted the fight was too fast for her, regretting what ⁠⁠more she could have done in a short timeframe.

“I feel great,” Carano said after the loss. “I wanted to fight, ⁠⁠and I didn’t get that. But she trained. She ⁠⁠had her game plan. I have so much love and respect for her, and this was a victory in my life. She changed it. I woke up at 3am every morning thinking about ‌‌her. I fell back in love with mixed martial arts. There’s ‌‌so ‌‌many things to think about here. It’s just [that] the fight didn’t go my way.

“I wanted that to last longer – I felt like I was so ready, I felt so good,” she said. “But I haven’t been here for 17 years. I wanted to hit her.”

Carano, 44, is unsure whether she’ll return to MMA, choosing to keep the door open.

Carano said the mere fact of getting in shape for her return – she revealed before the bout she had shed more than 100 pounds (45kg) in the two years leading up to the contest – was a victory.

“Right now, just getting in the cage was a victory, getting here after 17 years is a victory. Fighting a legend was a victory. I feel great, I just wanted to fight, and I didn’t get to do that.”

Great Britain and Northern Ireland’s mixed 4x400m team won bronze at the World Athletics Relays in Botswana, while four other GB teams also qualified automatically for the 2027 World Athletics Championships.

Alex Haydock-Wilson, Lina Nielsen, Jake Minshull and Yemi Mary John finished third in three minutes 8.24 seconds, behind the USA and Jamaica.

A place on the podium qualifies the 4×400 mixed team for the inaugural World Athletics Ultimate Championships in Budapest in September.

GB’s men’s 4x100m, the women’s 4x400m and the mixed 4x100m line-ups progressed to Sunday’s finals from Saturday’s heats, earning them a place in Beijing next year.

The women’s 4x100m team, who were disqualified after finishing second in their first day heat, came in second in their Sunday repechage to take one of four remaining World Championships slots.

However the men’s 4x400m quartet, who finished seventh in their first race, placed third in their repechage and will bid to qualify for Beijing on time at a later date.

The women’s 4x400m squad finished fourth, while the men’s and mixed 4x100m teams both failed to get the baton round in their finals.

British athletes won medals in all five relay events at the 2024 Paris Olympics, but failed to reach the podium at last year’s World Championships in Tokyo.

Brent crude rises more than 7 percent as Washington and Tehran offer conflicting accounts on ceasefire negotiations.

Oil prices have risen sharply following attacks on commercial vessels in the Strait of Hormuz and conflicting messages about the prospect of renewed negotiations between the United States and Iran.

Brent crude futures, the primary benchmark for global prices, jumped more than 7 percent in Asia on Monday as the outlook for peace between Washington and Tehran darkened.

Prices eased somewhat later in the morning, with the benchmark at $94.69 a barrel as of 02:05 GMT, up from just under $90.40 on Friday.

The latest price surge came after US President Donald Trump said US forces seized an Iranian-flagged cargo vessel that had attempted to evade the US blockade of Iran’s ports.

Trump’s announcement followed reports by the United Kingdom Maritime Trade Operations (UKMTO) Centre over the weekend that two vessels came under attack while transiting the strait.

Iranian gunboats fired on a tanker, while an “unknown projectile” struck a container ship, according to the UKMTO.

After declaring the strait “completely open” on Friday, Tehran reversed course less than 24 hours later, citing the ongoing US blockade.

Earlier on Sunday, Trump said that a US delegation would travel to Pakistan on Monday to hold a second round of ceasefire talks with Iranian officials.

Iranian state news outlet IRNA later reported that Tehran would not participate in the talks, citing the US blockade and Washington’s “excessive demands” and “unrealistic expectations”.

A two-week ceasefire between Washington and Tehran is set to expire on Wednesday if the sides cannot agree on an extension.

An initial round of talks held in Islamabad earlier this month broke down without any agreement between the sides.

Iran’s effective closure of the strait, which usually carries about one-fifth of global oil and natural gas supplies, has driven a surge in fuel prices worldwide, forcing governments to tap emergency supplies and roll out energy-saving measures.

Nineteen vessels crossed the strait on Saturday, up from 10 the previous day, but far below the historical average of 138 daily transits, according to the UKMTO.

Asia’s main stock markets opened higher on Monday despite the dimming prospects of de-escalation.

Japan’s Nikkei 225 rose more than 1 percent in morning trading, while South Korea’s KOSPI gained about 1.3 percent.

Hong Kong’s Hang Seng Index rose about 0.5 percent, while the SSE Composite Index in Shanghai gained more than 0.4 percent.