Oil nosedives on renewed Iran deal hopes

Oil prices slump after President Trump announces new Iran talks are imminent, citing pressure from Gulf allies to hold off on a massive round of airstrikes. European and U.S. futures are in the green ahead of the first trading session of August. In Japan, the yen stabilises after U.S. and Japanese authorities confirm joint market intervention. Reports emerge of a $400bn mega-merger between AstraZeneca and Bristol Myers-Squibb which would potentially be one of the largest deals in the pharma sector ever.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.