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Middle East crisis live: Iran dismisses Trump claim of talks; von der Leyen says global energy situation is ‘critical’

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The dust is settling in the markets after a classic roller-coaster session yesterday, when hopes of de-escalation in the Middle East drove up shares and hit oil.

Yesterday’s equity rally was driven by Donald Trump appearing to blink first in the Iranian war, by claiming “very good” talks had taken place with Tehran and postponing any attacks on Iran’s energy infrastructure for five days.