The US President Donald Trump has set a deadline for Iran to reopen the crucial Strait of Hormuz shipping route, causing global oil prices to become highly volatile. Global benchmark crude rose 1.4%...

The agreement was announced not long before Trump's Tuesday evening deadline was reached.

The agreement was announced not long before Trump's Tuesday evening deadline was reached.

The ceasefire also led to a sharp drop in the dollar, which had become the safe haven while the war raged, with the yen, euro and pound all strengthening.

The US president has threatened to take out Iran "in one night" if it does not agree to open the Strait of Hormuz.

Oil prices rose today ahead of a deadline set by US President Donald Trump for Iran to open the Strait of Hormuz or face attacks on power plants and other infrastructure.

The US-Israeli war with Iran saw the steepest monthly oil price rise in history in March of more than 50 per cent.

The agreement was announced not long before Trump's Tuesday evening deadline was reached.

HONG KONG: Oil prices rose Tuesday (Apr 7) while equities edged up tentatively as investors assessed Donald Trump's latest deadline for Iran to reopen the strategic Strait of Hormuz or be "decimated".As the Middle East war entered its sixth week, the US president warned Tehran that its civilian infrastructure

Oil prices dropped across the board on Tuesday after Donald Trump announced a two-week ceasefire with Iran that would see the reopening of the Strait of Hormuz.

Japan's economy is particularly vulnerable to rises in crude oil prices because of its heavy reliance on imported energy. US crude futures fell about 16.5% to $94 a barrel.

Gold futures drop 0.4% as Trump issues Iran deadline over Strait of Hormuz closure. Dollar strength and rising oil prices add pressure on precious metals.

Trump warned a "whole civilization will die tonight" if Iran doesn't open the Strait of Hormuz, adding, however, "maybe something ... wonderful could happen, who knows." Meanwhile, strikes were reported on Kharg Island.

Global markets rallied on Wednesday as oil prices dropped sharply following news of a temporary ceasefire between the United States and Iran. US President Donald Trump said he had agreed to suspend...

Oil prices plunged and U.S. stock futures jumped after President Donald Trump held off on his threat of devastating attacks on Iran. U.S. crude oil futures fell more than 15%.

Dalal Street surged as ceasefire hopes and falling crude oil prices boosted investor confidence, adding Rs 14 lakh crore in early trade.

U.S. stock futures jumped higher and oil prices fell after President Trump announced a two-week cease fire and a potential longer peace deal with Iran Tuesday night. | Economy