Oil Prices Plunge on Trump-Iran Talks

0:00Europe news today, powered by AI bringing you what matters across Europe. I'm Cory with the story. Oil prices plunge today. After President Donald Trump suddenly called off strikes on Iranian energy sites, saying talks with Tehran went very well. Crude futures dropped more than 14 percent at first, settling around 8 percent lower while European gas prices fell about 4 percent. Stock markets in Europe bounced back, with Dublin's index of 2.5 percent, and gains in Paris and Frankfurt. Iran quickly denied any negotiations took place, which trimmed some of the early market gains. Trump's announcement came right after his weekend ultimatum, giving Iran 48 hours to reopen the Strait of Hormuz, or risk attacks on its oil, facilities. That key waterway, carrying 1-5th of the world's oil and gas, has stayed mostly shut. Traders called it a wild ride, with markets swinging on Trump's mixed signals between threats and de-escalation, analysts see it as a possible off-ramp from bigger conflict, easing fears

1:02of the worst energy crunch in decades, as warned by the international energy. Agency, the dropper verse and trends, like a weaker dollar against the euro and pound, and a slight pullback in bond yields tied to inflation worries. Gold prices dipped earlier on rate hike bets, but clawed back losses. Here in Ireland, Tana Stey Simon Harris plans a short-term cut to fuel taxes and rebates for truckers, hit by recent spikes, offering summer leaf as oil, volatility lingers.