Trump eases threats against Iran; crude oil plunges over 14% at one point, copper prices rise more than 3%.

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The US-Iran conflict has entered its fourth week. Trump announced a temporary suspension of threats to strike Iran's energy infrastructure, claiming progress in US-Iran negotiations, which sparked dramatic turbulence in global markets.

According to CCTV News, US President Trump said on the 23rd that he had ordered a halt to all military strikes against Iranian power plants and energy infrastructure for five days, provided that ongoing meetings and discussions are successful. Subsequently, CCTV reported that Iranian Islamic Parliament Speaker Kalibaf denied having dialogue with the United States in a post on social media.

On Monday, Brent crude and WTI crude both plunged more than 14% during the day, then recovered some losses. For the first time in nearly two weeks, global benchmark crude prices closed below $100.

Meanwhile, copper prices in the London market surged by the largest margin in nearly two months, industrial metals as a whole strengthened, and risk appetite has rebounded.

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