Fed chair Powell insists there’s no rush to cut US interest rates, despite Trump criticism – business live

Oil has fallen to its lowest level since June’s conflict began, while stock markets have jumped across Asia and Europe

• Oil prices sink after Iranian strike on US airbase reduces fears of market disruption

Travel and leisure stocks across Europe are rallying too.

This has pushed up the STOXX Europe travel and leisure index by 4.1% in early trading, which Reuters reports it the biggest one-day jump since 10 April.

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