Oil prices dropped Monday and stock futures soared after President Trump said the U.S. will postpone strikes on Iranian energy infrastructure for five days, citing productive talks for “a complete and total resolution” of hostilities. Iran denied that it was in talks with the U.S.
Brent crude futures fell almost 10% to around $101.40 a barrel, after initially dipping below $100 for the first time in days.
U.S. stock futures jumped, with contracts tied to major indexes advancing around 2%—reversing declines from earlier in the morning, when the prospect of further escalation hung over markets. The 10-year U.S. Treasury yield, which had earlier jumped above 4.4%, retreated on the news of the talks.
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