Aug 4, 2026 · 34 min · 10 segments
The conflict in Iran continues with consequences for the global energy supply and the global economy, but what is the wider context and where is it all leading?
Oil prices plunge and Europe's markets rally after Trump calls off Iran strikes.
Crude oil prices fell sharply, while stocks and government bonds rallied on Monday after Donald Trump canceled planned strikes on Iran and claimed peace talks were about to resume.
Both global oil benchmarks jumped more than 20% in July after fighting between the U.S. and Iran resumed, and as attacks on several tankers in the Strait of Hormuz revived fears for the safety of vessels transiting the important shipping passage.
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