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Trump's Mideast Talks Send Oil Prices Plummeting, Stocks Soar

Guavy AI Editorial Team
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Oil
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Oil prices plummeted over six percent on Monday after US President Donald Trump announced plans for new talks with Iran aimed at ending the Middle East conflict.

The news sparked a rally in stocks, with most major indexes rising in New York and Europe as lower oil prices increase the prospect of lower interest rates.

Market strategist Patrick Munnelly from the Tickmill Group noted that Trump's decision to restart talks with Iran has 'knocked a large chunk out' of the oil-risk premium and given bonds room to rally.

The yen surged against the dollar after US and Japanese authorities confirmed they had bought Japan's currency on the open markets, following months of weakness.

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