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ConfirmedShipping, energy & marketsBackgroundLondon, United Kingdom

Oil tumbles as much as 10% and stocks jump after Trump pauses power-plant strikes

Mountain Time
Local time
11:49 AM in London
Where
London, United Kingdom

Brent crude fell as much as $9.02 to $103.17 a barrel and U.S. crude slid to $90 after Trump's announcement, while S&P 500 futures rose 2.6%. Moves faded after Iran denied talks, but Brent ended back below $100 and the S&P 500 closed 1.1% higher, its best day since the war began.

Why it matters

The swing showed prices reacting to Washington's threats and talk of diplomacy even though the Strait of Hormuz remained effectively closed.

Sources (3)

Confidence: Corroborated by independent sources or direct evidence. About confidence labels