Oil prices fell sharply and global equities rose after President Trump canceled planned strikes on Iran and said talks had advanced toward a deal that could reopen the Strait of Hormuz to shipping as soon as this weekend. Brent crude settled at $87.33 a barrel, down 3.37%, while U.S. West Texas Intermediate closed at $84.88, down 3.23%. The settlement was Brent's lowest close since March 5 and WTI's lowest since April 17. Pakistan Prime Minister Shehbaz Sharif said a "final, agreed upon text"...

Read the original article