Oil prices pare back losses amid doubts over Israel-Iran ceasefire

Stock markets including FTSE 100 edge higher as traders hope conflict will not disrupt oil supplies

Oil prices have pared back losses after a sharp fall triggered by Donald Trump’s declaration of a ceasefire between Israel and Iran was tempered by doubts that the truce would hold.

Donald Trump declared a “complete and total ceasefire” on Tuesday morning and Israel then confirmed it had “agreed” to the proposal.

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