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The Economic Times
The Economic Times
Business

Global Market Today: Asian shares mixed, oil slumps on hopes of Iran deal

Iran Oil Japan Donald Trump United States

SINGAPORE: Oil prices skidded and stocks wobbled on Monday as hopes of peace in the Middle East grew, while the yen jumped suddenly after the U.S. and Japan confirmed joint intervention to prop up the frail currency.

Brent crude futures sank more ‌than 6% ⁠to $82.41 after U.S. ⁠President Donald Trump said talks with Iran will happen on Monday. He had earlier called off an imminent attack on Iran to reach a deal to reopen the Strait of Hormuz and resolve the impasse over Tehran's nuclear capabilities.

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