Global stocks rally, oil drops on tentative US-Iran ceasefire deal

Stock markets worldwide surged and oil prices eased after the U.S. and Iran reached a tentative deal to extend their ceasefire. Risk-on sentiment returned as conflict de-escalation reduced supply disruption fears. Immediate impact: long equity indices, short oil. Ceasefire deals can be fragile—watch for headline risk if talks collapse, which would reverse moves quickly and spike VIX. Gold likely weakens on reduced safe-haven demand.