New York, May 6, 2026 (AFP) - Oil prices tumble, stocks rally on Mideast peace hopes

NAMPA / AFP

2026-05-06

World oil prices dived Wednesday and stock markets rallied on fresh hopes for an end to the Iran war. US President Donald Trump said he believed a deal with Iran was "very possible", but threatened to resume his bombardment of the country if negotiations fell apart. International oil benchmark Brent North Sea made a double-digit plunge to under $100 a barrel, before cutting losses, finishing down 7.8 percent at $101.27 a barrel. Major US indices......

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