Washington/Tehran, July 27 -- Global stock markets advanced on Monday while oil prices fell by nearly 7pc after the US and Iran announced a pause to their fighting and signalled a possible return to negotiations over an interim ceasefire.
The market rally followed a pause in hostilities after nearly two weeks of escalating conflict, with investors responding positively to signs that diplomatic efforts may help prevent a wider regional war.
Although the Pentagon has not publicly commented on the decision to halt strikes on Iranian coastal targets and infrastructure,US Ambassador to the UN Mike Waltz told CBS News that the pause was intended to "give diplomacy some space."Investor sentiment improved sharply as concerns over disruptions to g...