U.S. crude oil futures fell by more than 15%. S&P 500 futures rose 2.2% at 8:05 p.m. Eastern Time, while Dow Jones futures gained 930 points or 2%. Late on Tuesday, Trump said he would suspend attacks on Iranian bridges, power plants, and other civilian targets he had threatened, as long as Tehran accepts a two-week ceasefire and the reopening of the Strait of Hormuz. Iran's Supreme National Security Council said it has accepted a two-week ceasefire, and its foreign minister said passage through the strait would be allowed for the next two weeks under Iranian military management. This is how the markets reacted to the ceasefire between the U.S. and Iran. U.S. crude oil futures fell 14.7% to $96.2 per barrel, while the international standard Brent fell 14.4% to $93.4. Oil prices plummeted, and U.S. stock futures rose after President Donald Trump suspended his threat to launch devastating attacks against Iran. The price is still well above where it was at the start of the war. Meanwhile, as trading began in Asia, Japan's Nikkei rose more than 4%, and South Korea's Kospi gained 6%. In mainland China, the Shanghai benchmark index rose 1.03%, while the Shenzhen index gained 2.5% to stand at 13,737.14 points. The rally in these markets comes after Pakistani Prime Minister Shehbaz Sharif confirmed an "immediate" two-week ceasefire between Iran and the U.S. and also announced a round of negotiations in Islamabad to try to reach a definitive agreement.
