Tuesday's advance was broad-based, tracking a powerful overnight session on Wall Street and a retreat in oil prices that lifted sentiment across nearly every corner of the local market. Oil slide and Iran diplomacy in focusMuch of the optimism flowing into Tuesday's session traced back to easing tensions between the United States and Iran. Still, the broader direction — falling oil prices and reduced geopolitical risk premium — has been enough to keep buyers engaged in equity markets across the past several sessions. Mining stocks also found support from the broader risk-on mood and firmer commodity prices tied to the weaker U.S. dollar. A different story in AsiaThe rally in Australian equities stood in contrast to steep losses elsewhere in the region.