# and Iran agreed on a two-week ceasefire, igniting hopes for the revival of oil and gas flows through the crucial Strait of Hormuz.

*business · news · 2026-04-08 · Devdiscourse*

## Key points

- Oil futures fell below $100 after a US-Iran two-week ceasefire agreement.
- Pakistan played a key role in negotiating the ceasefire between the US and Iran.
- President Trump announced the ceasefire hours before issuing an ultimatum to Iran.
- Despite the ceasefire, Israeli strikes on Lebanon and Iran's attack on a Saudi pipeline continued.

**Countries:** United States, Iran, Pakistan, Israel, Saudi Arabia

[Read the full story on Devdiscourse](https://www.devdiscourse.com/article/headlines/3866953-global-markets-surge-as-us-and-iran-agree-to-ceasefire)

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