BRUSSELS : Benchmark gas futures fell by as much as 20 percent to their lowest level since the start of the war.
These moves in global markets came after a post by US President Donald Trump on social media, in which he confirmed the suspension of military action against Iran for two weeks.
This announcement came less than two hours before a deadline that investors were watching closely as a potential catalyst for a large-scale military escalation in the region.
For its part, Iran expressed a conditional willingness to de-escalate, stressing that safe passage through the Strait would be possible during the truce period, provided that attacks cease and coordination with Iranian authorities takes place.
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