Oil prices have declined after US President Donald Trump announced a two-weeks ceasefire with Iran.
US crude futures reduced more than 15% to less than $95 a barrel hours after the announcement.
Even though the $95 a barrel is more than the $67.02 agreed on February 27 before the war started, the significant drop brings some relief.
Despite the 15% decline in oil prices, analysts have questioned the sustainability of the new futures and how long the ceasefire will lead to the end of the war.
Meanwhile, US stock futures and Asian markets shot up. Dow futures leapt more than 900 points, or about 2%, S&P 500 futures also jumped 2.1% and Nasdaq futures increased about 2.5% in after-hours trading.
Source: Elvisanokye.com