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European equities and US futures were largely subdued on Monday morning, even as oil prices pushed higher and Asian markets showed mixed but generally positive momentum. The price of Brent crude remained firmly above $100 per barrel, buoyed by renewed uncertainty surrounding diplomatic efforts between the United States and Iran, which appear to have stalled despite a prolonged ceasefire. At the start of trading, oil markets moved upward, reflecting investor concern over the f

Global oil prices experienced a sharp decline and stock markets surged following the announcement of a conditional two-week ceasefire deal between the United States and Iran, which includes the reopening of the strategically vital Strait of Hormuz. Benchmark Brent crude fell approximately 13% to $94.80 (£70.73) per barrel, while US-traded oil dropped more than 15% to $95.75 per barrel. Despite the retreat, prices remain significantly above pre-conflict levels; on 28 February,