US Edition
Oil prices plunge, markets rally after Trump postpones Iran strikes
President Trump paused military strikes on Iranian power plants for five days after productive talks, prompting a 10.5% drop in Brent crude, easing global market tensions.
- On March 23, U.S. President Donald Trump announced a five-day pause of planned strikes on Iranian power plants, prompting global markets to rally and reverse earlier losses.
- A near-closure of the Strait of Hormuz had disrupted about a fifth of global oil flows and caused market turmoil after Trump set a 48‑hour ultimatum for Iran.
- Brent crude briefly plunged as much as 14% to $96 shortly after the announcement, while the Dow Jones Industrial Average jumped about 1,032 points and the S&P 500 saw widespread gains.
- Markets and policymakers reacted with bond rallies and meetings as yields on the 10‑year Treasury and 10‑year gilts eased modestly, and Prime Minister Sir Keir Starmer convened an emergency COBRA meeting.
- The International Energy Agency warned the supply shock is severe and countries released 400 million barrels from strategic stocks, while authorities allowed sales of 140 million barrels at sea.
235 Articles
235 Articles
The world’s major markets closed with sharp rises as the price of oil plummeted following the messages of U.S. President Donald Trump, announcing that the conflict with Iran would unravel. “I am pleased to report that the U.S. and the country of Iran have had, over the past two days, very good and productive talks about a complete and total resolution of our hostilities in the Middle East,” Trump wrote in a publication of Truth Social.
US stocks rose on Monday after President Donald Trump ordered a postponement of attacks on Iranian power plants and energy infrastructure. European stock markets also reacted to Trump's announcement, with their indexes also strengthening slightly after earlier sharp morning losses triggered by concerns about an escalation of war in the Middle East.
Since President Donald Trump began what he now gently calls his “excursion” in Iran, Washington has been consumed by the question of when he will end it, even though many of his war goals have not yet been met. On Friday night, as he was heading to Florida, Trump seemed to be designing that much-mentioned exit. But he has clearly not yet decided if he will take it.
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