Dow soars 1,000 points and oil prices fall sharply on hopes for an end to the Iran war

NEW YORK (AP) -- Relief is ripping through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war. Oil prices are easing, and stock prices are jumping on Wall Street following severe losses elsewhere in the world before Trump's announcement. The price for a barrel of Brent crude fell 12.5% to $98.19, down from nearly $120 at one point last week, after Trump said the United States and Iran held productive talks the last two days "regarding a complete and total resolution of our hostilities in the Middle East." The S&P 500 leaped 2% and was flirting with its best day since last summer following the step down in tensions, even though Iran denied such talks took place.