Oil Plummets 15% as Trump’s Iran Peace Claim Sparks Market Rebound—But Tehran Denies Talks
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Global markets whipsawed Monday after Donald Trump announced on Truth Social that "constructive" talks had occurred with Iran to end Middle East hostilities, sending Brent crude crashing 15% in minutes while European and U.S. stocks surged. The president claimed "COMPLETE AND TOTAL" resolution discussions led him to delay strikes on Iranian energy infrastructure for five days—a move that instantly reversed Wall Street’s 2% morning slump as the S&P 500 jumped 1.3% and Germany’s DAX surged 1.2%.
Yet the relief proved fragile. Iran’s foreign ministry issued a swift, categorical denial: "We deny negotiations with the United States." This contradiction ignited volatility, with Brent crude rebounding from $96 to $103 after hitting $113 earlier Monday amid fears Iran would block the Strait of Hormuz. The waterway—critical for 20% of global oil shipments—has been effectively sealed since the conflict erupted February 28, crippling energy-dependent Asian markets like Japan’s Nikkei (down 3.5%) and South Korea’s Kospi (off 6.5%).
Trump’s all-caps statement emphasized the strike delay was "subject to success of ongoing meetings," injecting a five-day deadline that traders now watch like a ticking clock. "Markets are pricing hope, but the denial creates a dangerous credibility gap," warned J.P. Morgan strategist Elena Rodriguez. With Trump insisting talks occurred while Iran calls it "false propaganda," global investors face an unprecedented dilemma: bet on de-escalation or brace for renewed conflict when the clock runs out Thursday.
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