Oil ​prices settled lower on Thursday after U.S. President Donald Trump canceled plans to strike Iran ‌within hours, a move that raised expectations for a deal to end more than three months of war.

President Trump said he has canceled Thursday airstrikes he previously threatened on Iran, citing progress toward a peace deal.

Dramatic reversal comes hours before expected strikes, but details of diplomatic developments not immediately clear

• Trump touts progress: President Donald Trump claimed the US has “ended the war with Iran,” after earlier Thursday announcing a “great settlement” that he said would resolve the conflict and reopen the Strait of Hormuz. Trump said Vice President ...