Oil prices sink, stocks soar after Trump announces deal with Iran

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Oil prices plummeted and stock markets surged after Trump announced a deal with Iran, as investors bet the agreement would ease global energy supply worries. The rally reflected optimism that tensions between the U.S. and Iran, a major crude producer, might ease, potentially unlocking more oil on world markets. Yet analysts tempered expectations, cautioning that American gas prices could stay elevated despite the crude decline, since retail prices lag wholesale moves and reflect local factors including refining capacity and distribution costs.