IG Index futures point to the FTSE 100 falling 0.5% or 48 points, unwinding the top flight benchmark’s increase of 24.59 points yesterday. Brent Crude is at $73.61 a barrel, an increase of 0.5% after falling to $70 at one point yesterday amid reports Iran is willing to resume nuclear talks with the US.

NEW YORK: Oil prices fell more than $2 per barrel on Monday after reports that Iran is seeking an end to hostilities with Israel, raising the possibility of a truce and easing fears of a disruption to crude supplies from the region.

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.

Oil prices slipped $1 per barrel on Monday in volatile trading after reports that Iran is seeking an end to hostilities with Israel, raising the possibility of a truce and easing fears of a disruption to crude supplies from the region.