WTI plunges after US delays Iran strikes
WTI crude plunged up to 10% Monday after President Trump postponed planned strikes on Iranian energy assets for five days, sending prices from about $100 to a low of $83.99 before stabilising near $92.20 — markets priced out an immediate supply shock. The move eased risk aversion: India’s rupee hit a record low of 93.84 amid recent volatility, then broader risk sentiment improved and the dollar softened as talks reduced the chance of wider disruption. ((fxstreet.com), Investing.com, (livemint.com), (reuters.com))
U.S. equity futures ripped higher on the news — S&P 500 futures were up about 1.91% and Dow futures near +2.1% in early trading as investors rotated back into risk assets. (benzinga.com) Global benchmarks swung violently intraday, with Brent tumbling roughly $17 to a session low near $96 before cutting losses, Reuters reported in its market round-up. (money.usnews.com) U.S. government bonds rallied as traders repriced risk: two‑year Treasury yields slid about 21 basis points from a peak above 4% to session lows after the pause was announced. (bloomberg.com) Travel-related equities led the relief rally, with airline and cruise stocks showing roughly 5% premarket gains as fuel‑risk premiums were repriced lower. (benzinga.com) Policy action that could cap prices resurfaced in headlines as U.S. Treasury Secretary Scott Bessent said Washington may soon lift sanctions on about 140 million barrels of Iranian crude stored on tankers. (cnbc.com) The diplomatic picture remained muddled: Iranian state media and officials quickly denied any direct negotiations with Washington hours after President Trump described conversations as “productive,” a contradiction that kept markets on edge. (aljazeera.com)
