Oil prices plunge 15% to below $100, stocks surge and dollar slumps after Trump announces US-Iran ceasefire – business live

Gold jumped 2.6% to $4,825/oz as a US-Iran ceasefire triggered a broad risk rally, with Brent crude plunging more than 15% to $93.82/bbl and the dollar down over 1% against a major-currency basket. The move reflects an unwind of disaster hedges after investors were positioned for a much worse escalation in the Middle East; the immediate inflation shock from energy has eased, supporting a bid in bullion alongside the softer dollar.