US President Donald Trump on Thursday said he canceled scheduled strikes on Iran after reaching an agreement with Tehran to end the war, though the Islamic Republic said it hadn’t reached a “final decision” on a deal.

Trump’s announcement of a “great settlement” — he suggested it could be signed over the weekend — was welcomed by US markets, which surged after sliding in recent days when the US and Iran resumed strikes.

Oil prices fell more than 4%. Israel sought to downplay the significance of the possible pact, saying it was not party to the agreement. Trump has predicted an Iran deal was imminent dozens of times, only for talks to fall apart.