Oil prices have dropped and stock markets have risen globally following reports that the United States and Iran are nearing a deal to end their conflict.

• Brent crude futures fell below $100 a barrel, down from over $108 earlier in the day.
• Major stock indices, including the FTSE 100, Dax, Cac 40, and S&P 500, all saw gains.
• The market movements follow reporting from Axios suggesting a one-page document to end the war and initiate nuclear negotiations is close.
• The conflict has disrupted oil and gas shipments through the Strait of Hormuz, leading to price surges prior to these reports.

Oil prices have eased following US President Donald Trump's announcement to pause operations guiding ships through the Strait of Hormuz, signaling a potential deal with Iran.

• Brent crude fell 1.7% to $108 a barrel, and US-traded oil dropped 1.6% to $100.60.
• The initiative, named Project Freedom, aims to de-escalate tensions after attacks across the Middle East intensified.
• The Strait of Hormuz is a critical route, with approximately a fifth of global oil and gas shipments crossing it.

Renewed tensions between the United States and Iran have flared over the Strait of Hormuz following the U.S. launch of "Project Freedom" aimed at guiding commercial vessels through the vital waterway.

• The U.S. military reported destroying six Iranian small boats and intercepting missiles and drones, while Iran claimed to have fired missiles at a U.S. Navy frigate.
• Key players include President Donald Trump and Iran's Islamic Revolution Guard Corps.
• The escalation follows a ceasefire agreement on April 8, with concerns raised about regional security and the potential for broader conflict.