Brent crude drops by 5% after US president claimed talks on Middle East peace deal would resume Business live – latest updates Crude oil prices fell sharply while stocks and government bonds rallied on Monday after Donald Trump cancelled planned strikes on Iran and claimed peace talks were about to resume. Brent crude was trading 5% lower at $83.47 a barrel by lunchtime, after falling as much as 7.3% to $81.55 a barrel. US West Texas Intermediate dropped more than 5% to $79.47 a barrel. Continue reading...