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Global stocks rise, oil sinks as US and Iran outline path to end war

Global stock markets rallied and oil prices fell sharply after the US and Iran unveiled a framework aimed at ending their conflict. Investor sentiment improved on hopes of reduced geopolitical risk and the reopening of the vital Strait of Hormuz, a key global oil shipping route. The prospect of restored energy supplies pushed crude prices lower, while equities gained worldwide as markets welcomed signs of stability, easing inflation concerns and supporting expectations for stronger economic growth.