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The Guardian - UK

Business

Callum Jones and Alex Daniel

Oil prices fall and stocks rebound after Trump says Iran war could end ‘very soon’

Donald Trump Oil Iran United States Middle East

Donald Trump holds a press conference at Trump National Doral Miami in Miami — Donald Trump has tried to play down the remarkable jump in oil prices, saying they had risen ‘probably less than I thought they’d go up’. Photograph: Kevin Lamarque/Reuters

Oil prices have tumbled from four-year highs, capping an extraordinary 24 hours in global markets and prompting global stocks to rebound after Donald Trump suggested the US-Israel war on Iran could end “very soon”.

Brent crude, the international benchmark, surged as high as $119.50 a barrel on Monday as the Middle East conflict intensified fears of a deepening energy supply crisis.

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