Global oil prices have nosedived after President Donald Trump's announcement of a two-week ceasefire with Iran in a major reprieve for Britons. The price of US-traded oil plunged by nearly 16.5 per cent to $93.

GB News was interrupted for a breaking news update as the FTSE 100 plunged at its opening following oil prices surging above $100 amid Iran strikes

Top members of President Donald Trump’s cabinet were at each other’s throats over war with Iran right up until the moment the president hit the big red button. Vice President JD Vance, Defense

The address comes as President Trump shared an updated timeline for the end of the war in Iran.