Stocks are set to climb on the prospect of a peace deal and a weaker oil price, but futures suggest a degree of scepticism around the US president’s claims.

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

Wall Street powered a rally in stocks as oil sank after President Donald Trump signalled the US is close to a deal with Iran, fuelling hopes for an end to the war that has roiled…