By Gloria Nosa
Global markets experienced a dramatic turnaround after Donald Trump signaled a halt to planned military action targeting Iran’s energy facilities, citing encouraging diplomatic engagement between both countries.
Oil prices, which had surged earlier amid fears of disruption, quickly reversed course. Brent crude oil slumped by 6.7 percent to $104.70 per barrel, while West Texas Intermediate declined 6.9 percent to $91.41 after briefly trading above $100.
The sharp drop followed renewed optimism over easing tensions, as Trump hinted that recent discussions between Washington and Iran could pave the way for a broader settlement of hostilities.
Across Europe, stock markets bounced back after early losses triggered by rising concerns over instability in the Strait of Hormuz. Germany’s DAX gained 1.5 percent, while France’s CAC 40 rose by one percent, both recovering from earlier declines.
Meanwhile, the UK’s FTSE 100 closed flat, as losses among major oil and gas companies limited overall gains.
The developments highlight how quickly investor sentiment can shift, with geopolitical signals—especially those tied to energy supply routes—continuing to drive volatility in global markets.
