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 early Wednesday trading in Japan, Australia, South Korea and China. Oil prices plunged below $100 a barrel. That came as a reaction to the ceasefire as the recent spike in their prices was directly in response to the war, which had effectively blocked passage through the Strait of Hormuz. Much of the world’s oil supply is transported through the strait, including oil headed to resource-poor Japan.