Commodities
Oil Prices Slide as Hopes Rise for US-Iran Diplomatic Breakthrough
British stocks rose on Monday as oil prices fell on hopes of a diplomatic solution to de-escalate the US-Iran conflict.
The FTSE 100 index was up 0.43% by 03:15 ET (07:15 GMT), while Germany's DAX gained 0.72% and France's CAC rose 0.70%. Meanwhile, sterling slipped 0.16% to $1.3373.
In Iran, Revolutionary Guards spokesperson Hossein Mohebbi said the US had been defeated in the war and failed to reopen the Strait of Hormuz, which would bring 'new weapons with new capabilities' into the battlefield.
A bill was submitted by Iranian lawmakers to withdraw from the Nuclear Non-Proliferation Treaty, while US envoy Mike Waltz offered a compromise for Iran to return to negotiations in good faith.