Oil dives, stocks surge as Trump agrees to two-week ceasefireCargo ships in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance, amid the U.S.-Israeli conflict with Iran, in United Arab Emirates, March 11, 2026. REUTERSSINGAPORE: Oil prices dived, ​bonds rallied and stocks surged on Wednesday after a two-week ceasefire in ​the Middle East spurred a ‌relief rally as investors cheered the possible resumption of oil and gas flowing through the Strait of Hormuz. "Markets have been predicting that Trump was looking for an off-ramp in Iran," said Jamie ​Cox, managing partner at Harris Financial Group. The six-week conflict has sent oil prices surging, stoked worries of inflation and upended the global rates outlook with countries and companies scrambling to adjust to ‌the energy shock. In commodities, ⁠gold prices rose over 2% ​to $4,812 per ounce.

Source: Bangkok Post April 08, 2026 03:21 UTC