Brent crude oil back over $100 a barrel as optimism over Middle East de-escalation fades – business live

Rolling coverage of the latest economic and financial news Middle East crisis live: Iran dismisses Trump claim of talks; von der Leyen says global energy situation is ‘critical’ Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. The dust is settling in the markets after a classic roller-coaster session yesterday, when hopes of de-escalation in the Middle East drove up shares and hit oil. Iran initially denied any knowledge of the talks, although reports suggest the US administration may have identified a potential new negotiating partner open to a ceasefire. However, some of this optimism has been overshadowed this morning by fresh reports of US and Israeli strikes on energy-related buildings in Iran’s Isfahan region, which has seen [US] crude oil bounce 3% to $91.53. Presumably, these latest strikes are designed to get all of Iran’s new leadership group on the same ceasefire page ahead of Trump’s revised deadline for Iran to reopen the Strait of Hormuz, which is now set for Friday. Crucially, this deadline coincides with the expected arrival of 2,200 Marines of the 31st Marine Expeditionary Unit in the Gulf Region, along with the USS Tripoli and USS New Orleans. 9am GMT: Eurozone flash PMI report for March 9.30am GMT: UK PMI report for March 9.30am GMT: The Science, Innovation and Technology Committee will question senior representatives of Google, TikTok, X and Meta 1.30pm: Bank of England chief economist Huw Pill speech at central banking conference in North Macedonia 2.30pm GMT: Business and Trade committee hearing on Royal Mail 2.45pm GMT: US PMI report for March Continue reading...

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