From the Hype of Destruction to the Hype of Ceasefire

Oil prices plunged roughly 14% after President Trump announced on social media that the United States had agreed to suspend bombing and attacks on Iran for two weeks, provided Iran immediately reopens the Strait of Hormuz for safe shipping. Iran confirmed it accepted the conditional ceasefire, with talks scheduled to begin Friday in Pakistan. The announcement came just before Trump’s self-imposed 8 p.m. deadline, following weeks of escalating strikes.