The United States and Iran held “very good and productive talks” on a “complete and final settlement” of the conflict in the Middle East, Donald Trump said on his Truth Social account.
Against that backdrop, Trump ordered a five-day postponement of military strikes on Iranian power plants and energy infrastructure facilities. According to the US president, the truce will remain in place “provided that the ongoing negotiations succeed.”
Trump also said the negotiations will continue for a week.
As Bloomberg reports, the oil market reacted immediately. Brent crude futures plunged by more than 14% to $96 a barrel. Gas prices in Europe fell by 8.9%, while global bonds moved higher.