Oil prices ease and markets rally as Trump works towards deal with Iran

US president briefly pauses ‘Project Freedom’ operation escorting ships through strait of Hormuz

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Oil prices have eased and stock markets rallied as Donald Trump touted “great progress” towards a “final agreement” with Iran, while momentum in AI-driven trading accelerated.

The US president said he would briefly pause his “Project Freedom” operation escorting ships through the strait of Hormuz, which carries about a fifth of the global oil supplies and has been blockaded by Iran since late February, triggering an energy crisis.