Oil prices plunge and stocks jump after Trump announces conditional ceasefire with Iran
Brent crude oil dropped to $93 a barrel after Trump ceasefire announcement and Iran’s pledge to reopen strait of Hormuz under its management Middle East crisis – live updates Full report: US and Iran agree to provisional ceasefire with Tehran saying it will reopen strait of Hormuz Oil prices plunged by almost 15% after Donald Trump held off on his threat to bomb Iran into the stone ages on Tuesday night, and Iran’s foreign minister said passage through the strait of Hormuz would be allowed for t
Oil heads for biggest daily fall since pandemic as Iran says it will reopen strait of Hormuz under its management
Middle East crisis – live updates
US and Iran agree to provisional ceasefire as Tehran says it will reopen strait of Hormuz
Oil prices tumbled on Wednesday and global stock markets rallied after the US and Iran agreed a two-week conditional ceasefire.
Investors welcomed the news that Donald Trump had held off on his threat to bomb Iran into “the stone ages”, while Iran’s foreign minister, Abbas Araghchi, said passage through the strait of Hormuz would be allowed for the next two weeks under the management of Iran’s military. Wall Street recorded its biggest single-day rally in a year.
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