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Evening Standard

Politics

Holly Williams

Oil prices fall back and global stocks rally amid hopes of Iran war ceasefire

Iran Oil Donald Trump Matt Britzman United Kingdom United States Gas Prices Natural Gas

Harbour Energy is the UK’s largest oil and gas producer (Alamy/PA) -

Oil prices have eased back and global financial markets rebounded on the latest hopes of a resolution to the Middle East conflict on reports of a 15-point ceasefire plan offered by the Trump administration to Iran.

Brent crude fell back below 100 US dollars a barrel, down 6% at 98.23 dollars in morning trading on Wednesday, while UK natural gas prices fell 8%.

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