(April 7) : Oil climbed and stocks whipsawed after President Donald Trump signaled that an escalation of strikes on Iran could come as soon as Tuesday, overshadowing hopes for a ceasefire. Fears that imminent military action could derail tentative progress toward restoring energy flows through the Strait of Hormuz drove US crude above US$112. In a volatile session, equities held on to small gains, with the S&P 500 posting its longest advance since January. It demanded a permanent end to the war, lifting of sanctions, and reconstruction efforts, in addition to protocol for safe passage through Hormuz, according to the state-run Islamic Republic News Agency. “It’s clearly too early for market watchers to stop thinking about geopolitical risk,” said Jeff Buchbinder at LPL Financial.

Source: The Edge Markets April 06, 2026 22:11 UTC