(RTTNews) - European stocks closed higher on Friday as lower oil prices and bond yields amid renewed hopes about an end to the Middle East conflict and potential reopening of the Strait of Hormuz helped underpin sentiment. Brent crude futures front-month contract fell to a low of $103.11 before recovering slightly, but still remained more than 2% down from previous close. Washington Post has quoted Iranian Foreign Minister Abbas Araghchi as saying on the sidelines of the UN General Assembly session in New York that Iran has submitted a proposal to U.S. officials through mediators this week to end the Middle East war.
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