US President Trump said we just made a great settlement of war with Iran and that a signing of the Iran deal will probably happen in Europe and soon, while the Strait of Hormuz will open as soon as a deal is signed.

NEW YORK (AP) — U.S. stocks rallied to their best day in two months, and oil prices fell Thursday after President Donald Trump called off his threat to bomb Iran

“The market has taken the view that Trump doesn’t want to escalate further and has no interest in seeing oil prices surge again.”