Overview
- The United States paused strikes after 13 consecutive nights and Iran indicated a temporary suspension over the weekend, a development markets treated as a short‑term de‑escalation.
- Brent crude fell roughly 6–8 percent to below $90 a barrel and U.S. WTI also dropped sharply, producing the largest single‑day oil decline in weeks.
- European equities rallied at the start of the week, with the DAX pricing higher as investors saw reduced near‑term energy‑driven inflation risk ahead of major central‑bank decisions.
- Italy announced a temporary 17 cent per litre diesel tax cut running until August 6, but motor fuel prices at the pump have only edged down so far and consumer groups call the measure insufficient.
- Analysts warned the lull is fragile because attacks have spread to the Red Sea and other routes, and reports from Pakistani security sources that a limited U.S. ground action is possible remain unverified.