US stock markets close on high after Iran war drove oil prices above $100 a barrel

Markets settled after Trump claimed US-Israel war with Iran is very complete', bringing oil prices down to $85 a barrel

• How high could oil prices go - and what might the global economic fallout be?

US stock markets closed on a high after oil prices swung wildly on Monday, reaching a four-year high in the morning that rattled Asian and European markets before settling down once Donald Trump said the US-Israel war with Iran is very complete".

After surging past $100 a barrel on Monday morning, oil prices came down to $85 a barrel by the time that US stock markets closed in the afternoon. US stocks leaped at a report from a CBS News reporter that Trump thinks the war is very complete, pretty much" because they have no navy, no communications, they've got no air force".