Oil prices fall and Europe's stock markets rally after Trump backs off Iran strikes

❗️Oil prices fall and Europe's stock markets rally after Trump backs off Iran strikes European equities advanced today as falling oil prices and potential diplomatic talks between Washington and Tehran eased regional tensions. The pan-European STOXX 600 index climbed 0.4% to reach 651.69 points by 8:50 GMT, while Germany's DAX outperformed regional peers with a 1.4% jump. Energy equities retreated 1% as crude futures tumbled over 4% following US President Donald Trump's announcement of negotiations with Iran, which Iranian officials have once again denied. Markets reacted to signs that Washington might avert further military aggression while pursuing an agreement to secure navigation through the Strait of Hormuz.