Markets rally on Iran deal hopes as oil execs meet Trump at White House | 6 May 2026 | Global markets rallied Wednesday as signs of progress in U.S.-Iran talks fueled hopes of an end to the war, sending oil prices lower and stocks to record highs. Brent crude fell below $100 a barrel — its lowest level in weeks — on expectations that risks to shipping through the Strait of Hormuz could ease if a deal is reached. U.S. equities surged, with major indexes extending record gains on optimism around a diplomatic breakthrough. President Donald Trump reinforced that outlook, saying the U.S. has had “very good talks over the last 24 hours” and “it’s very possible that we’ll make a deal.”