Oil prices plunge and Europe’s stock markets rally after Trump calls off Iran strikes
Oil supertankers and merchant marine ships in the Fujairah anchorage, just off the strait of Hormuz. Photograph: Barry Iverson/AlamyView image in fullscreenOil supertankers and merchant marine ships in the Fujairah anchorage, just off the strait of Hormuz. On Sunday, he said talks with Tehran would start on Monday.Kathleen Brooks, the research director of the broker XTB, said the drop in oil prices should help support markets.
- ▪Oil supertankers and merchant marine ships in the Fujairah anchorage, just off the strait of Hormuz.
- ▪Photograph: Barry Iverson/AlamyView image in fullscreenOil supertankers and merchant marine ships in the Fujairah anchorage, just off the strait of Hormuz.
- ▪On Sunday, he said talks with Tehran would start on Monday.Kathleen Brooks, the research director of the broker XTB, said the drop in oil prices should help support markets.
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| Original publisher | The Guardian — World |
| Canonical URL | https://www.theguardian.com/business/2026/aug/03/oil-prices-fall-europe-stock-markets-donald-trump-iran-us-brent-crude |
| Publication time | Mon, 03 Aug 2026 08:44:52 GMT |
| Retrieval time | 2026-08-03T08:50:43.805Z |
| Last seen | 2026-08-03T08:50:43.805Z |
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Oil supertankers and merchant marine ships in the Fujairah anchorage, just off the strait of Hormuz. Photograph: Barry Iverson/AlamyView image in fullscreenOil supertankers and merchant marine ships in the Fujairah anchorage, just off the strait of Hormuz. Photograph: Barry Iverson/AlamyOilOil prices plunge and Europe’s stock markets rally after Trump calls off Iran strikesBrent crude drops by 5% after US president said talks on Middle East peace deal would resume Business live – latest updates Julia KolleweMon 3 Aug 2026 04.44 EDTSharePrefer the Guardian on GoogleCrude oil prices fell sharply and European stock markets rallied on Monday after Donald Trump cancelled planned strikes on Iran to focus on negotiations for a peace deal.Brent crude was trading 5% lower at $83.50 a barrel by…
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