US-Iran Ceasefire: Trump Halts Action Against Iran, Oil Prices Drop; US Markets Rally on Two-Week Reprieve

US President Donald Trump has decided to postpone a potential major attack on Iran for two weeks. He stated that military action could be halted for the time being if Iran permits the safe passage of ships through the Strait of Hormuz.

Major Drop in Crude Oil Prices

The impact of this decision was immediately visible in global markets. Crude oil prices witnessed a significant decline. The price of US crude fell by approximately 18% to around $92.60 per barrel, while Brent crude dropped by about 6% to reach $103.40 per barrel. However, these prices remain higher than the levels observed prior to the outbreak of the war.

Rally in US Stock Markets; Investor Confidence Rises

Meanwhile, the US stock market witnessed a rally. S&P 500 futures rose by approximately 2.4%, signaling a visible boost in investor confidence. The market anticipates that if tensions subside, economic conditions could also stabilize.

Trump Announces Ceasefire

Making a major announcement, President Donald Trump stated that the potential attack and bombing campaign against Iran have been temporarily suspended for two weeks. Trump explained that this would constitute a “mutual ceasefire”—meaning that during this period, neither the US will launch an attack nor will Iran take any aggressive measures. However, a major condition has been attached to this agreement: Iran must immediately, completely, and safely reopen the Strait of Hormuz.

Iran Sends 10-Point Peace Proposal to the US

Trump also revealed that a substantive 10-point peace proposal has been received from Iran, which could pave the way to end the conflict that has been ongoing since February 28. Currently, the eyes of the entire world are fixed on the direction events will take over the next two weeks—whether peace will prevail or if tensions will escalate once again.