Oil prices plunged to their lowest level in weeks and stocks rallied on Friday after President Trump called off plans for another day of strikes on Iran, saying that a peace deal could be within reach.
The gains in stock markets across Europe and Asia followed a strong rally on Wall Street on Thursday. Mr. Trump had threatened a third straight day of strikes on Iran before canceling the operation and saying that an agreement could be signed as soon as this weekend. Iran’s state broadcaster, quoting the spokesman for the country’s foreign ministry, said “nothing has been finalized.”
