Relative calm returned to global markets, with stocks climbing and oil sinking alongside gold as fears subsided that Israel’s war against Iran would escalate into a wider conflict. Equities extended gains on a news report that Iran is signaling it wants to restart talks over its nuclear programs.

The Wall Street Journal reported that Iran has been indicating it seeks an end to hostilities, sending messages to Israel and the US via Arab intermediaries, Middle Eastern and European officials said. According to the report, Tehran would be open to negotiate as long as the US doesn’t join the conflict.

Oil and Gold stokcs dropped in morning trading.