Markets are cheering the two-week ceasefire struck by President Trump and leaders in Iran, with investors scrambling to buy up stocks after a six-week conflict marked by periodic Wall Street selloffs.
Footage from inside Iran showed crowds of people celebrating in Tehran after the US and Iran agreed to a two-week ceasefire, barely an hour before Donald Trump’s Wednesday deadline to obliterate the country and its infrastructure. Iranian state media announced that the country forced the US 'to accept its 10-point plan' Middle east crisis: latest updates
Analysts said oil and natural gas energy companies would not quickly restore production unless attacks stopped and ships started moving through the Strait of Hormuz.
Untangling the largest disruption in oil market history won't happen quickly or easily — and that means continued high prices and scarcity in major importing countries.Why it matters: A big thing to watch following the U.S.-Iran ceasefire deal is whether it gives tanker owners enough certainty to begin resumption of large-scale traffic of oil, petroleum…
Oil prices plummeted on Wednesday after President Trump announced a two-week ceasefire with Iran. Futures for international benchmark Brent crude were down about 17 percent to about $91 per barrel while U.S. benchmark WTI was down about 18 percent, trading at around $93 per barrel on Wednesday morning. The Wall Street Journal reported that prices were…
Investors around the world breathed a sigh of relief at the prospect of peace — and an easing of the global energy crisis.
U.S. crude dropped $16 per barrel, and Brent crude — the international standard — fell nearly $14.
US stock futures surged Wednesday morning as oil plunged near $90 after a two-week ceasefire with Iran narrowly avoided President Trump’s 8 p.m. ET bombing deadline, and included the reopening of the Strait of Hormuz.
