CNBC Daily Open: Iran attacks halt and wildfires rage across Europe

A woman walks past war-themed graffiti and murals painted on walls along the capital Tehran's streets and avenues as air defense systems are activated during the night while daily life continues in the shadow of rising military tensions between the US and Iran on July 22, 2026 in Tehran, Iran. Fatemeh Bahrami | Anadolu | Getty ImagesHello, this is Leonie Kidd coming to you from London. There are two major stories this morning. For markets, efforts by the U.S. and Iran to explore a more diplomatic solution to their tensions is driving oil prices sharply lower and lifting stocks across the globe. For Europe, the wildfires raging across France and Spain are causing a humanitarian and environmental disaster, with hundreds of thousands evacuated and historic damage to the countryside and farming. What you need to know todayA cessation in attacks between the U.S. and Iran is driving oil prices sharply lower in early trading. Both Brent crude futures and U.S. West Texas Intermediate crude futures are down around 5%. A senior Iranian official has indicated that Tehran will halt attacks while the U.S. also pauses its strikes, Reuters reported. Washington has not ordered any action against t...