{"id":60653,"date":"2026-04-07T19:38:16","date_gmt":"2026-04-07T23:38:16","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-announces-two-week-iran-ceasefire-oil-plunges-as-strait-of-hormuz-reopening-looms\/60653\/"},"modified":"2026-04-07T19:38:16","modified_gmt":"2026-04-07T23:38:16","slug":"trump-announces-two-week-iran-ceasefire-oil-plunges-as-strait-of-hormuz-reopening-looms","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-announces-two-week-iran-ceasefire-oil-plunges-as-strait-of-hormuz-reopening-looms\/60653\/","title":{"rendered":"Trump Announces Two-Week Iran Ceasefire; Oil Plunges as Strait of Hormuz Reopening Looms"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>WTI Crude futures collapsed by $10.99 to $101.96 per barrel<\/strong> following the announcement of a conditional two-week ceasefire.<\/li>\n<li><strong>President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> suspended military strikes<\/strong> against Iran, contingent on the <strong>immediate and complete reopening of the Strait of Hormuz<\/strong>.<\/li>\n<li><strong>Spot <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> surged 2.3% to a record $4,812.39\/oz<\/strong> and <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> jumped 3% as markets reacted to the high-stakes diplomatic shift.<\/li>\n<li><strong>Formal negotiations are scheduled for Friday, April 10, in Islamabad<\/strong>, where the U.S. and Iran will discuss a 10-point framework to end the conflict.<\/li>\n<li><strong>Israel has agreed to the temporary halt<\/strong> and suspended its bombing campaign, despite reports of internal dissatisfaction with the plan.<\/li>\n<\/ul>\n<p>In a major geopolitical shift, <strong>President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> has announced a two-week suspension of military strikes against Iran<\/strong>, effective immediately. The ceasefire is strictly <strong>conditional on Iran\u2019s complete and immediate reopening of the Strait of Hormuz<\/strong>, a move intended to restore global energy flow.<\/p>\n<p>Energy markets saw an immediate and violent reaction to the news, with <strong>WTI Crude futures plunging $10.99 to settle at $101.96 per barrel<\/strong>. <em>Traders are pricing in the potential for a massive influx of supply<\/em> should the strategic waterway return to normal operations. Major energy producers like Exxon Mobil (<a href=\"\/stock\/XOM\">XOM<\/a>) and Chevron (<a href=\"\/stock\/CVX\">CVX<\/a>) are expected to see high volatility as the situation develops.<\/p>\n<p>While oil prices fell, safe-haven assets reached new heights. <strong>Spot Gold jumped 2.3% to $4,812.39\/oz<\/strong>, while <strong>Spot Silver surged nearly 3% to $75.12\/oz<\/strong>. <em>The rally in precious metals suggests that while the ceasefire is a relief, investors remain wary of the long-term stability of the region.<\/em><\/p>\n<p>Diplomatic efforts are moving rapidly, with the <strong>first round of negotiations set for Friday in Islamabad, Pakistan<\/strong>. Iran has reportedly presented a <strong>10-point framework<\/strong> that includes the <strong>lifting of all primary and secondary sanctions<\/strong>, the release of frozen assets, and the withdrawal of U.S. combat forces from regional bases. Iranian Foreign Minister Araghchi confirmed that <strong>safe passage through the Hormuz is guaranteed for the two-week period<\/strong> in coordination with Iranian armed forces.<\/p>\n<p>The White House confirmed that <strong>Israel has also agreed to the temporary ceasefire<\/strong> and has suspended its active bombing campaign. However, reports from Israeli media indicate that officials are <strong>&quot;unhappy&quot; with the plan<\/strong>, even as they remain committed to the pause. This internal friction highlights the <em>fragile nature of the agreement<\/em> as both sides prepare for the Islamabad talks.<\/p>\n<p>In the currency and rates markets, the <strong>U.S. Dollar dropped 0.32% against the Yen to 159.13<\/strong>, while the <strong>Australian Dollar surged 0.8% to $0.7030<\/strong>. Meanwhile, <strong>U.S. Fed Fund Futures rallied<\/strong>, with the December contract implying <strong>17 basis points of easing<\/strong> as geopolitical tensions showed signs of a temporary peak. Central banks continue to monitor the situation closely, with a recent survey ranking <strong>geopolitics as the top global risk for 70% of institutions<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways WTI Crude futures collapsed by $10.99 to $101.96 per barrel following the announcement of a conditional two-week ceasefire. 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