Oil prices climbed and most stocks fell on fears over the nascent US-Iran ceasefire after Tehran threatened to resume hostilities as Israel launched a major bombardment of Lebanon, reports Reuters.
Fears that the ceasefire could fall apart while crude remains stuck in Hormuz saw West Texas Intermediate oil jump at least 3 per cent, having plunged more than 16pc the day before. Brent rose more than 2pc following a 13pc drop.
Equities also gave up some of their gains.
