Osmond Chia
Oil prices briefly fell below $100 a barrel and shares opened higher in Europe on Wednesday after President Donald Trump said the US will leave Iran in "two to three weeks" regardless of whether a deal is struck with Tehran. Brent crude ticked down to $98.65 before inching back up to $101 following Trump's pledge and ahead of a speech this evening when he will "provide an important update on Iran".
In the UK, the FTSE 100 index rose 1.3%. In Germany, the Dax traded 2.1% higher and France's Cac added 1.8%. Since the US-Israel war with Iran, oil and gas prices have soared after Tehran threatened to attack vessels using the Strait of Hormuz, effectively shutting the key shipping route. On Wednesday, QatarEnergy said a fuel oil tanker the company leased had been "the subject of a missile attack" in the early hours of the morning.
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