President Donald Trump announced a two‑week suspension of planned US strikes on Iran, contingent on Iran fully reopening the Strait of Hormuz.
The pause follows Pakistani mediation with Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, and a 10‑point Iranian proposal.
After‑hours, the SPDR S&P 500 ETF Trust rose about 1.6%, while WTI crude fell nearly 7% to roughly $102.50 per barrel.
Trump had warned earlier that “a whole civilization will die tonight” if conditions weren’t met, and set an 8 p.m. EST deadline.