Oil Prices Plunge Over 13% After President Donald Trump Postpones Iran Strikes
Global energy markets saw a massive reversal today, with oil prices falling by more than 13% following the five-day postponement of military strikes against Iranian energy infrastructure.
The move immediately cooled a market that had been trading at extreme highs, providing a much-needed sigh of relief for the global economy.
The impact was felt instantly across the board: Brent Crude plummeted 15% to a session low of $96.00, while the U.S. benchmark, WTI, shed over 13.5% to land at $85.28. European natural gas prices also saw a dramatic 17% drop in just eight minutes following the news.
Beyond energy, the de-escalation signal sparked a major rally on Wall Street.
S&P 500 and Dow Jones futures surged by 2.6%, while airline and shipping stocks saw significant gains as the immediate threat of a fuel cost spike receded.
