Ongoing tensions with Iran, coupled with a new threat from President Donald Trump, are contributing to volatility in global oil markets. Initial reports saw Brent crude prices climb above $110 a barrel.
The rise in oil prices was partly attributed to the United States reportedly deeming Iran's latest diplomatic proposal insufficient. However, oil prices later saw a decline, which helped global stock markets stabilize.
This shift in oil prices and market stability coincided with reports of potential U.S. proposals for an Iran sanctions waiver, suggesting ongoing diplomatic efforts. This is a developing story and will be updated as details emerge.
