Oil falls and markets recover after Iran halts military operations against Israel

Global financial markets began stabilising after Iran announced the end of its military operations against Israel, easing earlier concerns over escalating conflict in the region.

The Iranian military’s joint command said it was halting offensive actions following an exchange of fire with Israel, according to the Associated Press, after calls from U.S. President Donald Trump for both sides to “immediately stop shooting," News.Az reports, citing The Guardian.

Oil prices retreated from earlier highs, with Brent crude rising just 1.75% to $94.58 a barrel after briefly reaching $98 earlier in the day.

European equities also recovered from initial losses, with the pan-European Stoxx 600 index moving into positive territory as risk sentiment improved.

Government bond markets similarly stabilised, with prices rising and yields falling across UK, U.S. and eurozone debt, reflecting renewed investor confidence following the de-escalation announcement.

News.Az 

By Leyla Şirinova