Key Takeaway
Brent crude drops by 5% after US president said talks on Middle East peace deal would resumeBusiness live – latest updatesCrude 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.
Published August 3, 2026 · Category: News
Overview
Brent crude drops by 5% after US president said talks on Middle East peace deal would resume
Crude 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.
Details
Brent crude was trading 5% lower at $83.50 a barrel by mid-morning, after falling as low as $81.55 a barrel. US West Texas Intermediate dropped more than $5 to $79.47 a barrel.
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Source
Originally published at www.theguardian.com.
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Frequently Asked Questions
What is "Oil prices plunge and Europe’s stock markets rally after Trump calls off Iran strikes" about?+
Brent crude drops by 5% after US president said talks on Middle East peace deal would resumeBusiness live – latest updatesCrude 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 mid-morning, after falling as low as $81.55 a barrel. US West Texas Intermediate dropped more than $5 to $79.47 a barrel. Continue reading...
Who reported this story?+
This story was reported by The Guardian World.