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Oil prices plunge, markets rally after Trump postpones Iran strikes
Trump postponed strikes on Iranian energy sites for five days after talks described as 'very good and productive,' triggering an 8.3% drop in Brent crude oil prices, analysts said.
- 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.
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Good morning! There was a positive reaction on Wall Street to the possible rapprochement between Iran and the United States. The American president made…
·Netherlands (Kingdom of the)
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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.
·Chile
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Coverage Details
Total News Sources288
Leaning Left50Leaning Right43Center61Last UpdatedBias Distribution40% Center
Bias Distribution
- 40% of the sources are Center
40% Center
L 32%
C 40%
R 28%
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