Oil plunges below $95 as the Dow surges 1,300 in a worldwide rally following a ceasefire with Iran
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Oil prices have plummeted below $95 per barrel and stock markets have surged worldwide after President Donald Trump announced a two-week ceasefire with Iran. The Dow Jones Industrial Average rallied 1,325 points, and the Nasdaq composite soared 2.8% following gains in European and Asian stock markets.
Oil prices dropped below $95 per barrel after President Trump announced a ceasefire with Iran. The Dow Jones Industrial Average rose 1,325 points, and the Nasdaq composite gained 2.8%. The S&P 500 leaped 2.5% after Trump's announcement. The ceasefire has led to a surge in stock markets worldwide, with Asian markets seeing significant gains. The price of benchmark US crude oil plunged 16.4% to settle at $94.41. The next moves for oil prices will depend on the passage of oil tankers through the Strait of Hormuz.
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