Oil Prices Tanks As Trump Pauses US‑Iran War

Oil stocks plunged more than 15% after President Donald Trump announced a two‑week ceasefire in the US‑Iran war, igniting a powerful relief rally in stocks. Brent crude slid over 16% toward 91 dollars a barrel and WTI fell a similar amount to the mid‑90s, erasing much of the conflict‑driven risk premium that had built up since late February.

Trump said on Truth Social he would “suspend bombing” Iran for two weeks in what he called a “double‑sided ceasefire,” arguing US forces had already exceeded their military objectives. That softer tone, plus hopes for safer oil flows around the Strait of Hormuz, pushed S&P 500, Nasdaq 100 and Dow futures roughly 2% higher, with Dow futures surging more than 900 points in early trade.

Still, Iran’s demand for a full end to the war and reparations leaves the truce on shaky ground, and crude prices remain well above pre‑war levels. Any sign that talks are stalling—or that shipping lanes are at risk again—could see the oil market snap back just as violently in the other direction.

$TPET down -30%

$BATL down -24%

$WTI down -16%