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Oil prices plunge and Europe’s stock markets rally after Trump calls off Iran strikes

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.

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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Aug 3, 2026 Oil Energy industry Stock markets
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Oil prices plunge and Europe’s stock markets rally after Trump calls off Iran strikes Oil Aug 3, 2026 Oil prices plunge and Europe’s stock markets rally after Trump calls off Iran strikes 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 c...
Oil prices plunge and Europe’s stock markets rally after Trump calls off Iran strikes

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 c...

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