President Donald Trump announced a two‑week suspension of Iran strikes after talks with Pakistan PM Shehbaz Sharif and Field Marshal Asim Munir.
Iran’s foreign minister Seyed Aragchi said Tehran would halt operations if the U.S. stops attacks and opens the Strait of Hormuz safely.
S&P 500 futures jumped over 2% in after‑hours trading, while WTI crude oil fell nearly 13% to $86.21 per barrel.
The Strait of Hormuz, handling about 20% of global oil consumption, was highlighted as a key condition for the cease‑fire.