- Brendan Mcdermid/ReutersOil prices plunged, stocks rallied and government bond yields sank after President Trump said he had agreed to a cease-fire with Iran if the Strait of Hormuz reopened. Most Read from The Wall Street JournalEven the possibility that trade flows will resume sent benchmark Brent crude prices sharply lower, poised for their biggest drop in years. Futures prices for diesel, a workhorse of the world economy produced in the Middle East, and natural gas also sank. The financial fireworks are among the most extreme since the U.S. and Israel first attacked Iran nearly six weeks ago. Write to Joe Wallace at joe.wallace@wsj.comMost Read from The Wall Street Journal

Source: Wall Street Journal April 08, 2026 12:36 UTC