Oil prices dropped and stocks rallied after President Trump said the U.S. will
postpone strikes on Iranian energy infrastructure for five days, and that the two countries
are in talks over a potential deal to end the war.
Brent crude futures fell sharply, trading below $100 a barrel for the first time in days following the news, reflecting
optimism that energy flows through the Persian Gulf could recover soon.
All three major U.S. stock indexes pushed sharply higher, with the Dow industrials gaining nearly 1,000 points.
Travel stocks rose, while shares in energy and fertilizer companies fell. Stock futures had been in the red early Monday before Trump's announcement.