Oil price falls and markets rally after Trump says Iran war over in ‘two to three weeks’

US president’s claim that conflict is nearing end prompts 15% drop in Brent crude and stock market climb in Asia

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Oil prices tumbled and stock markets rallied across the world on Wednesday after Donald Trump said the war in Iran would end in “two to three weeks”.

Brent crude, the international benchmark for oil, dropped to $99.78 a barrel, down more than 15% compared with its price on Tuesday – its lowest level in a week.