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Oil drops below $100 per barrel - markets react to hopes for peace

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Oil dropped below $100 per barrel. WTI reached $102. Iran's state news agency says the country is willing to end the war with guarantees.

The S&P 500 rose 2.9% and Nasdaq gained 3.8%. Gold climbed 3.8% to $4,684 per ounce. Trump says the Strait of Hormuz will open automatically after a US withdrawal.