US stocks experienced a significant rally on Monday, driven by optimism surrounding a tentative deal between the United States and Iran aimed at resolving the ongoing conflict and restoring stability to global energy markets. The benchmark S&P 500 index climbed 1.7 percent, bringing it close to its all-time high, while the tech-heavy Nasdaq Composite saw a more substantial increase of 3.1 percent.

The surge in the stock market is directly linked to hopes that the de-escalation of tensions between the US and Iran will alleviate disruptions in the Strait of Hormuz, a critical chokepoint for global energy supplies. Months of conflict had previously roiled energy markets and contributed to price volatility.

Key to the Nasdaq's ascent was a notable 19.6 percent jump in SpaceX shares, following its historic market debut on Friday which reportedly created the world's first trillionaire in Elon Musk. The Dow Jones Industrial Average also posted gains, rising 0.9 percent to reach a record high. Concurrently, Brent crude futures, a primary global oil price benchmark, saw a significant drop of nearly 5 percent, trading just above $83 a barrel, marking its lowest point since the conflict began.

Experts suggest that the agreement has fundamentally shifted investor sentiment. Jay Goldberg, a senior analyst at Seaport Research Partners, explained that the resolution of the conflict removes a major source of uncertainty for investors, allowing them to feel more comfortable taking on increased risk in the market. The previous investor dilemma, he noted, was balancing strong AI spending against the backdrop of an ongoing war.

Despite the positive market reaction, analysts caution that a full normalization of energy flows is not immediate. The backlog of approximately 500 ships awaiting passage through the Strait of Hormuz, and the necessary security measures to ensure the waterway is free from potential naval mines, are expected to prolong the return to normal supply chains. This vital strait normally handles about one-fifth of the world's oil and liquefied natural gas.

Asian stock markets showed a more muted response on Monday morning, after experiencing a significant rally the previous day on the news of the US-Iran deal. Japan's Nikkei 225 was marginally down, while South Korea's Kospi saw a slight decrease. Taiwan's TAIEX registered a modest gain, and Hong Kong's Hang Seng Index experienced a small decline.

The framework agreement between Washington and Tehran, while promising, faces the challenge of practical implementation. Ensuring the safety and unimpeded passage through the Strait of Hormuz will be crucial for sustained stability in energy markets. The potential for future disruptions, however minor, remains a point of consideration for market participants.

Further details on the specific terms of the deal and the timeline for its full implementation are still emerging. The long-term impact on global energy prices and supply chain resilience will depend on the sustained cooperation between the involved parties and the effective resolution of logistical hurdles.