US EditionDow closes up more than 1,300 points after US-Iran ceasefire
The relief rally lifted all three major U.S. indexes as crude fell about 16% on hopes that oil shipments through the Strait of Hormuz could resume.
- On Wednesday, the United States and Iran agreed to a two-week ceasefire allowing the Strait of Hormuz to reopen, sending benchmark crude prices plunging nearly 16% to $94.52 a barrel.
- Late Tuesday, President Donald Trump announced he would hold off on threatened attacks against Iranian civilian targets, reversing a five-week escalation that had effectively blocked the crucial waterway.
- Travel-Linked stocks jumped Wednesday, with American Airlines and Delta Airlines surging 7.3% and 6.8% respectively, while energy giants Exxon Mobil and Chevron declined as oil prices retreated.
- Tim Waterer, chief market analyst at KCM Trade, warned that "the ceasefire is only two weeks long," questioning whether shipping through the Strait will normalize as promised.
- Iranian officials indicated the Strait could open Thursday or Friday ahead of peace talks if both nations agree upon a ceasefire framework, keeping markets focused on sustained energy shipments.
76 Articles
76 Articles
Oil Jumps $97, Dow Futures Dip 42 Points; Iran Accuses US Of Violating Truce: 'In Such Situation … Ceasef
Late Wednesday, U.S. stock futures edged lower while oil prices surged toward $100 as tensions flared over a fragile ceasefire between Washington and Tehran. Markets Slip As Oil Prices Surge On Geopolitical Tensions Dow futures fell 42.00 points, or 0.09%, to 48,102.00 as of 9:01 p.m. EDT. S&P 500 futures declined 12.00 points, or 0.18%, to 6,811.75, while Nasdaq 100 futures dropped 59.50 points, or 0.24%, to 25,014.75. In commodities, WTI crude…
With great relief Wall Street is picking up the news of a two-week ceasefire with Iran. The prospect of opening the Hormus road is sinking oil prices back into the double-digit range.
Oil plunges below $95 as the Dow surges worldwide
Oil prices plunged below $95 per barrel, and stock markets surged worldwide after President Donald Trump pulled back from his threat of devastating attacks against Iran. The S&P 500 leaped 2.5% Wednesday after Trump announced a two-week ceasefire. The Dow…
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