Overview
- President Trump announced the pause late Tuesday on Truth Social after Pakistan’s leader mediated and he received a 10-point proposal from Iran.
- Iran said tankers will be allowed through the Strait of Hormuz for two weeks under its armed forces’ coordination.
- Crude fell about 15%–18% to the low $90s as Dow futures jumped roughly 1,200 points and the Nasdaq rose around 3%.
- Investors bought airline and chip stocks and sold energy shares, and 10-year Treasury yields fell as lower oil prices eased inflation worries.
- Ship trackers reported only early signs of movement, and a large tanker backlog plus damaged Gulf energy sites could slow a full restart through a strait that carries roughly one-fifth of global seaborne oil.