Oil prices dropped 5 per cent and stocks surged on hopes of an early end to Gulf conflict. Oil prices dropped after US president Donald Trump again signalled the potential end to the Iran war that’s roiled markets, even as the Strait of Hormuz remains largely closed and more US troops arrived in the region. Europe’s STOXX 600 jumped ‌more than 2 per cent on opening with all major sectors in the green except energy. Oil price-sensitive travel stocks jumped ⁠4.2 per cent and led sectors higher. Trump has regularly vacillated between saying an Iran deal is imminent and warning he’s prepared to ramp up military operations.

Source: The Irish Times April 01, 2026 15:49 UTC