Tuesday, March, 24 2026 - Global markets reacted sharply after Donald Trump announced a halt to strikes on Iranian energy infrastructure, citing progress in talks with Iran.
Oil prices plunged following the announcement, reversing
earlier gains. Brent North Sea crude dropped 6.7 per cent to $104.70 per
barrel, after initially rising, while West Texas Intermediate fell 6.9 per cent
to $91.41, having earlier surpassed $100.
The shift came after Trump signalled diplomatic progress,
writing: “The United States and Iran have had, over the last two days, very
good and productive conversations regarding a complete and total resolution of
our hostilities in the Middle East.”
European stock markets also rebounded after earlier losses
triggered by escalating tensions over the Strait of Hormuz. Frankfurt’s market
rose by 1.5 per cent and Paris gained one per cent, recovering from earlier
declines of around 2.5 per cent.
However, London’s FTSE 100 remained flat, weighed down by
losses among major energy firms. The developments highlight how sensitive
global markets remain to geopolitical tensions in the Middle East, particularly
those affecting oil supply routes and energy infrastructure.
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