Asia-Pacific markets were set to open broadly higher Tuesday as oil prices, while elevated, eased slightly following news that President Donald Trump was postponing a scheduled attack on Iran.
The West Texas Intermediate futures for June was 1.19% lower at $107.37 per barrel as of 7:20 p.m. ET. Brent crude futures for July last traded at $112.10 per barrel.
Japan's Nikkei 225 was poised to gain, with the Chicago futures contract at 61,670 and its Osaka counterpart last trading at 61,410, compared with the index's previous close of 60,815.95.
Hong Kong Hang Seng index futures were at 25,558, lower than the index's last close of 25,675.18.
In Australia, futures last traded at 8,615, above the S&P/ASX 200â²s close at 8,505.30.
Trump said in a Truth Social post that U.S. military leaders were informed to call off a "scheduled attack of Iran tomorrow" after requests from the leaders of Qatar, Saudi Arabia and the United Arab Emirates.
"A Deal will be made, which will be very acceptable to the United States of America, as well as all Countries in the Middle East, and beyond. This Deal will include, importantly, NO NUCLEAR WEAPONS FOR IRAN!," Trump added.
However, Trump cautioned that he has informed his military leaders "to be prepared to go forward with a full, large scale assault of Iran, on a moment's notice, in the event that an acceptable Deal is not reached."
Despite the fragile ceasefire between the U.S. and Iran, the vital Strait of Hormuz remains closed by Tehran, while the U.S. continues to blockade Iranian ports.
"As the Middle East conflict enters its third month, there is little prospect of a swift and durable settlement between the U.S. and Iran and with it the full reopening of the Strait of Hormuz," Moody's said in a note.
Futures tied to the S&P 500 were up 0.1%, while Nasdaq 100 futures rose 0.2%. Dow Jones Industrial Average futures advanced 25 points, or 0.05%.
During Monday's regular session, the broad market S&P 500 benchmark dropped 0.07% to end at 7,403.05, while the tech-heavy Nasdaq slid 0.51% and closed at 26,090.73. It was the second straight day of declines for both indexes. The Dow Jones Industrial Average closed up 159.95 points, or 0.32%, at 49,686.12.
â CNBC's Lisa Kailai Han and Kevin Breuninger contributed to this report.
