WTI crude oil prices plummeted over 6% in after-hours trading following U.S. President Trump's announcement of potential ceasefire negotiations with Iran. Trump revealed that the U.S. is engaged in talks with Iran, which has agreed to "never possess nuclear weapons." This development led to a retreat in oil prices and U.S. Treasury yields, while stock markets partially recovered from earlier losses.
The market initially reacted to rumors of a U.S. military deployment to the Middle East, causing WTI crude to surge above $93 per barrel and U.S. stocks to decline. However, Trump's comments on the progress of U.S.-Iran negotiations, including a proposed one-month ceasefire and 15 negotiation proposals, reversed these trends. The Nasdaq 100 futures index rose over 1%, while Bitcoin showed narrow fluctuations, currently trading at $70,634.74.
Trump's Ceasefire Talks with Iran Trigger 6% Drop in WTI Crude
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