President Donald Trump announced an extension of the pause on U.S. attacks against Iran's energy facilities by 10 days, moving the end date to April 6, following a request from the Iranian government [1]. Trump made the announcement via Truth Social, emphasizing that negotiations are progressing well despite contrary reports from some media outlets [1]. The conflict, which began on February 28 with strikes by the United States and Israel, has significantly impacted global oil markets, as Iran has effectively closed the Strait of Hormuz to oil shipments, a critical passage for crude movement [1].
The original five-day pause was set to expire on Friday, but Trump had previously announced the initial pause on Monday, also through Truth Social [1]. The extension aims to avoid further escalation in the war with Iran, aligning with the U.S. government's desire for a negotiated resolution [1]. Market reactions were pronounced: the S&P 500 index dropped by 1.74% on Thursday, marking its largest daily decline since the start of 2026, while Brent crude oil futures surged by more than 5.6%, closing at $108.01 per barrel [1].
Trump reiterated to reporters that "very substantial talks" are ongoing with Iran, although Tehran has denied being in direct negotiations with the U.S. [1]. The ongoing closure of the Strait of Hormuz and the threat to energy infrastructure have contributed to sharp increases in oil prices and heightened volatility in equity markets [1].
CONCLUSION
Trump's decision to extend the pause on attacks against Iran's energy facilities has led to a surge in oil prices and a significant drop in U.S. stock indices, reflecting heightened market uncertainty. The ongoing negotiations and closure of the Strait of Hormuz remain key factors influencing global energy and financial markets. Investors are closely watching developments for signs of de-escalation or further disruption.