BUSINESS
Oil, US dollar rise as Middle East peace talks collapse
Oil and the dollar have jumped as the failure of US-Iran talks to yield an agreement left a fragile ceasefire hanging in the balance and no end to a choke on Middle East energy exports.
S&P 500 futures dropped one per cent in early trade. Benchmark Brent crude futures surged eight per cent to $103 a barrel. The euro fell about 0.5 per cent to $1.1672.
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