Oil Prices Plummet as Trump Announces Talks with Iran

Global markets kicked off the week on an optimistic note as tensions in the Middle East eased and diplomatic efforts gained momentum. Oil prices plummeted by more than five percent, with Brent crude futures dropping to $83.40 per barrel after US President Donald Trump announced plans for talks with Iran.

The sharp decline in oil prices helped boost European equities, with Germany's benchmark DAX index rising 1.3 percent and the S&P 500 futures gaining 0.5 percent. In contrast, Asian markets struggled to maintain momentum, with Japan's Nikkei 225 index falling one percent.

The Japanese yen also strengthened after a rare joint intervention by Tokyo and Washington, with the currency gaining more than 0.5 percent against the US dollar. Market analysts attributed the move to renewed optimism over diplomatic progress in the Middle East and the broader policy signals from Washington.