European stocks surge as US and Iran agree on conditional ceasefire, oil prices drop below $100.

European stock markets are set to open significantly higher following a conditional ceasefire agreement between the US and Iran. The deal includes a two-week suspension of planned US attacks on Iranian infrastructure, contingent on Iran reopening the Strait of Hormuz. This development caused global markets to rally and oil prices to fall below $100 a barrel. Despite the ceasefire, some Middle Eastern countries report ongoing missile and drone activity from Iran, maintaining regional tensions. Investors will also watch earnings from Shell and economic data from Germany and the EU.