US President Donald Trump ordered a five-day halt to military strikes against Iran's power plants and energy infrastructure on Monday, claiming that 'very good and productive conversations' with Tehran had brought the two sides closer to ending the conflict now in its fourth week. Iran flatly denied that any talks had taken place.
The announcement, posted on Truth Social hours before a 48-hour ultimatum to reopen the Strait of Hormuz, was set to expire, sending Dow futures surging more than 1,100 points. Brent crude plunged over 14% before settling 11% lower at $99.94 (£74.53) per barrel, its first close below $100 (£74.63) since 11 March.
