Oil slumps and markets rally as Trump announces Iran-Israel ceasefire – business live

Rolling coverage of the latest economic and financial news, as oil falls to lowest level since June’s conflict beganOil prices sink after Iranian strike on US airbase reduces fears of market disruptionOil has pushed even lower, after the Israeli government confirmed reports that it agreed to a ceasefire proposal brokered by the US.Israel says:Israel thanks President Trump and the United States for their support in defense and their participation in eliminating the Iranian nuclear threat.In light of achieving the objectives of the operation, and in full coordination with President Trump, Israel has agreed to the president’s proposal for a bilateral cease-fire.“Too Late” Jerome Powell, of the Fed, will be in Congress today in order to explain, among other things, why he is refusing to lower the Rate. Europe has had 10 cuts, we have had ZERO. No inflation, great economy - We should be at least two to three points lower.Would save the USA 800 Billion Dollars Per Year, plus. What a difference this would make. If things later change to the negative, increase the Rate. I hope Congress really works this very dumb, hardheaded person, over. We will be paying for his incompetence for many years to come. THE BOARD SHOULD ACTIVATE. MAKE AMERICA GREAT AGAIN! Continue reading...

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