# The announcement came hours before US President Donald Trump's deadline for Iran to reopen the Strait of Hormuz.

*business · news · 2026-04-08 · Business Standard*

## Key points

- The US and Iran agreed to a two-week ceasefire, potentially reopening the Strait of Hormuz.
- Iran may reopen the Strait of Hormuz as early as Thursday or Friday if talks progress.
- Crude oil prices fell below $100 a barrel on expectations of resumed energy shipments.
- Market expectations for a December Fed rate cut rose to 33.9% from 13.6% in one day.
- The S&P 500 energy sector dropped nearly 5%, with major oil stocks posting significant losses.

**Companies:** Exxon Mobil, Chevron, Occidental Petroleum, Southwest Airlines, United Airlines, Carnival, Norwegian Cruise Line, Goldman Sachs, American Express, Levi Strauss, Delta Airlines
**Countries:** United States, Iran

[Read the full story on Business Standard](https://www.business-standard.com/markets/news/wall-street-jumps-to-near-one-month-highs-dow-up-2-8-pc-on-us-iran-ceasefire-126040801458_1.html)

---

Canonical: https://newsio.io/n/a2bc2d68-4581-4903-a20f-a8e9b78d86fc/the-announcement-came-hours-before-us-president-donald-trumps-deadline-for-iran
Summarized by Newsio from Business Standard. https://newsio.io/how-it-works