Notifications can be managed in browser preferences.
Stock markets latest updates and business news on Monday
I would like to be emailed about offers, events and updates from The Independent. Read our Privacy notice
After a recent surge to as much as $80 a barrel, the price of Brent Crude Oil has dropped back sharply on news of a ceasefire between Israel and Iran. Escalating Middle East tensions had seen markets concerned over the prospect of a wider war breaking out and the Strait of Hormuz being closed, which would in turn restrict flow and send oil prices even higher.
Stock markets are also set to react positively to the news, with the FTSE 100 up after opening and US stocks set to follow suit later today. Overnight, Asian stock markets had a similar reaction, the Hang Seng ending more than 2 per cent up, while in Europe the likes of the German DAX and French CAC 40 are both rising on the day.
