Trump Cancels Further U.S. Strikes On Iran, Says War Is ‘Ended’

Financial markets responded positively Friday amid growing optimism that a diplomatic breakthrough could be within reach

European stocks rallied sharply, with the pan-European Stoxx 600 climbing 1. 8% and most major indexes posting gains of around 2% in morning trading.

Energy markets also reacted to the prospect of easing tensions. U. S.

crude oil futures for July delivery fell 1. 61%, while August Brent crude futures, the international benchmark, dropped 1. 75% as traders priced in a reduced risk of supply disruptions, CNBC reported.