Donald Trump signals end to war may be close; Shipping company says ship damaged in Strait of Hormuz

Oil prices fell today and global stock markets rose on hopes that the United States and Iran are nearing a deal that would allow ships to once again deliver Persian Gulf crude to their customers.

The price for a barrel of Brent crude oil, the international standard, fell 7.8 percent to $101.27, compared to more than $115 at the beginning of the week.

It fell when Trump said the Strait of Hormuz could be “OPEN TO ALL” if Iran accepts a reported deal that the president has not detailed.

On Wall Street, the S&P 500 climbed 1.5 percent for its best day in almost a month, hitting another record high. The Dow Jones Industrial Average rose 1.2 percent, and the Nasdaq index rose 2 percent to its own record.

The rise will energize the Australian stock market this morning.

Futures on the ASX 200 rose 1.1 percent.