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Forex

Oil Prices Plummet as Trump Halts Strikes Against Iran

Guavy AI Editorial Team
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JPY
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The price of oil has dropped significantly after US President Donald Trump announced that he would hold off on ordering new strikes against Iran, easing concerns about inflation and boosting Wall Street's mood.

Oil prices fell sharply on Monday, with Brent crude dropping 5.1% to $83.42 per barrel. The S&P 500 rose 0.4%, the Dow Jones Industrial Average added 625 points, and the Nasdaq composite rose 0.2%. Treasury yields also fell.

The US and Japan have intervened in the currency market, propping up the value of the Japanese yen against the dollar. The dollar's value has surged as a safe-haven asset during times of uncertainty, but a weaker dollar can make US exports more competitive.

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