U.S. and Iran Agree to Ceasefire, Impacting Oil Prices and Stock Markets
The United States and Iran have agreed to a two-week ceasefire, which includes the reopening of the Strait of Hormuz, a critical passage for global oil transportation. This development has led to a significant drop in oil prices, with U.S. crude oil futures falling 14.3% to $96.83 a barrel and Brent crude dropping 13.3% to $94.74. The ceasefire comes after heightened tensions and threats of military action from President Trump, who had previously warned of attacks on Iranian infrastructure. The agreement has also positively impacted stock markets, with futures for the S&P 500 and Dow Jones Industrial Average rising. Despite the ceasefire, attacks continued in the region, and the exact start time of the ceasefire remains unspecified. 
