U.S. stocks race toward the finish of a third straight week of big gains.

Brent crude drops and gas prices slide amid hopes Donald Trump will succeed in reaching deal with Tehran

U.S. stocks race toward the finish of a third straight week of big gains.

The S&P 500 leaped 2.5% after Trump announced a two-week ceasefire with Iran, less than 90 minutes before a deadline Trump had set for it to open the Strait of Hormuz.

Crude oil prices surged Sunday, as the U.S. and Iran teetered on the brink of a renewed war after attacks on commercial ships in the Strait of Hormuz.

Oil prices jumped and global equities pulled back as markets grew increasingly concerned that the ceasefire between the U.S. and Iran might not hold, while tensions over the…