# Crude oil slumped and US equity-index futures surged after President Donald Trump agreed to suspend bombing on Iran for two weeks.

*business · news · 2026-04-07 · Bloomberg*

## Key points

- President Trump agreed to suspend bombing on Iran for two weeks.
- West Texas Intermediate crude oil prices fell as much as 17% to below $100 a barrel.
- The ceasefire agreement was reached just hours before Trump's set deadline for Iran.
- Iran accepted the two-week ceasefire proposal, which was put forward by Pakistan.

**Countries:** United States, Iran, Pakistan

[Read the full story on Bloomberg](https://www.bloomberg.com/news/articles/2026-04-07/stock-market-today-dow-s-p-live-updates)

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