Oil Prices Plunge as Trump Pauses Strikes on Iran; Stocks Rebound
Global markets reacted sharply when the US President halted planned strikes on Iranian energy infrastructure, citing progress in diplomatic talks. Brent North Sea crude fell 6.7% to $104.70 per barrel. West Texas Intermediate dropped 6.9% to $91.41, reversing earlier gains above $100. European stocks also recovered. Frankfurt added 1.5% and Paris gained 1%, offsetting losses of around 2.5%. London’s FTSE 100 stayed flat amid energy firm declines, underscoring market sensitivity to Middle East tensions.
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