A sharp reversal hit global markets Monday morning after Iran announced a suspension of its military operations against Israel, cooling a volatile trading session that had initially sent energy prices soaring.
U.S. crude oil, which had surged by as much as 5.4% earlier in the day, quickly gave up most of those gains to sit just 1.5% higher. International Brent crude followed an almost identical trajectory, tumbling from a 5% spike down to a modest 1.3% gain.
At the same moment, Wall Street futures rebounded sharply to hit their highest levels of the morning. Nasdaq 100 futures pointed toward a 1.4% opening gain, while S&P 500 futures climbed 0.8%.
The market pivot came directly on the heels of a statement from Iran’s Khatam al-Anbiya Central Headquarters, the central command for the country’s armed forces. Published by the semiofficial Tasnim news agency, the military statement declared, “The suspension of Armed Forces operations is announced.”
The military headquarters noted that Iran had “delivered a painful response to the regime in support of the oppressed people of Lebanon,” adding, “It is a response from which the illegitimate Zionist regime and its supporters should have learned a lesson.”
Despite the pause, Tehran paired the announcement with a direct warning of escalation if regional fighting persists. “If aggressions and hostile actions continue, including in southern Lebanon, far more severe and crushing measures than before will follow,” the military headquarters stated. The command also asserted that its recent strikes proved Iranian forces “remain at the highest level of defensive and offensive readiness, carrying out their promised actions with speed and precision.”
Israel has not yet officially responded to Iran’s announcement. Earlier in the morning, the Israel Defense Forces provided an update on its own recent military actions, stating that its strikes on a petrochemical facility in Mahshahr, located in southwestern Iran, specifically targeted the country’s ballistic missile program.
According to the IDF, “the targeted infrastructure produced unique materials that serve as critical components for the development of ballistic missiles.”
Amid the fast-moving military and market developments, President Donald Trump commented on the situation via Truth Social, claiming that both “Israel and Iran are looking to do an immediate CEASEFIRE!”
Trump indicated that talks were ongoing but remained tentative. “Final negotiations on ‘Peace’ are proceeding, subject to ignorance or stupidity getting in its way,” Trump wrote, adding that “The Blockade will remain in place, and in full force and effect, until a ‘Final Deal’ is reached. Things should move quickly.”
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