World shares were higher and oil fell briefly below $100 per barrel on Wednesday after U.S. stocks soared to their best day in almost a year on renewed hopes that the Iran war could soon end.

The renewed optimism over a possible de-escalation of the Iran war, which is in its fifth week, came after U.S. President Donald Trump said on Tuesday the United States will be done attacking Iran probably in two to three weeks, and that the U.S. "will not have anything to do with" what happens next in the Strait of Hormuz.