by Stefan J. Bos, Worthy News Chief International Correspondent
WASHINGTON/TEHRAN/JERUSALEM (Worthy News) – U.S. President Donald J. Trump said Tuesday he had agreed on a two-week ceasefire with Iran that would include Israel, though the Jewish nation continued intercepting missiles fired by Iran-backed forces.
He said the United States had received a 10-point proposal from Tehran. The announcement prompted oil prices to tumble, while financial markets welcomed the news, with S&P 500 and Nasdaq 100 futures rising.
“I agree to suspend the bombing and attack of Iran for a period of two weeks,” Trump said in a post on his social media platform Truth Social.
The decision to hold off on attacking Iran is “subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz,” he wrote, using capital letters to stress his terms.
The prospect of reopening the crucial waterway—responsible for roughly a fifth of global oil and liquefied petroleum gas supplies—immediately impacted energy markets.
MARKETS SURGE AS OIL PRICES DROP
West Texas Intermediate crude tumbled as much as 11 percent to just above 100 dollars a barrel after Trump’s announcement, which came just hours before a Tuesday 8 p.m. New York deadline he had set for Iran to strike a deal or face being bombed “to the Stone Age.”
Equity-index futures in the United States jumped more than 1.5 percent following the comments, while the dollar weakened.
However, gold—long seen as a safe haven in times of turmoil—also climbed more than 1.3 percent to above 4,770 dollars an ounce, Bloomberg News service noticed.
Copyright 1999-2026 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
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