Stock Markets Rise, Oil Prices Fall After Trump Halts Iran Strike Plans

March 24, 2026 Priya Shah – Business Editor Business

Global stock markets largely rose on Monday while oil prices plummeted after former U.S. President Donald Trump announced he had directed a pause on potential strikes against Iranian energy infrastructure following what he described as “very excellent and productive conversations” with Tehran.

Brent crude oil futures traded in London fell 10.9% during the day to $99.94 a barrel, while West Texas Intermediate (WTI) crude dropped 10.3% to $88.13 a barrel in Fresh York, immediately following Trump’s statement on his social media platform, Truth Social. The initial drop in oil prices exceeded 14% before partially recovering. Iran subsequently denied that any such conversations had taken place with the United States, according to reports from Iranian media.

The Dow Jones Industrial Average rose 1.4% to 46,208.47, the Standard & Poor’s 500 gained 1.2% to 6,581.00, and the Nasdaq Composite increased 1.4% to 21,946.76. European markets showed a more mixed response. The FTSE 100 in London fell 0.2% to 9,894.15, while the CAC 40 in Paris rose 0.8% to 7,726.20 and the DAX in Frankfurt increased 1.2% to 22,653.86.

CFRA Research analyst Sam Stovall suggested that Trump’s statement regarding a five-day delay in potential strikes on Iranian power stations and energy infrastructure “means we could witness further gains [in stock markets] this week.” Asian markets, which had already closed for the day before Trump’s announcement, experienced significant declines earlier in the session.

The value of the U.S. Dollar declined against the euro, British pound, and Japanese yen following Trump’s statement. The euro rose to $1.1616 against the dollar, up from $1.1550. The British pound increased to $1.3437, from $1.3323, and the dollar fell to 158.34 yen, from 159.30 yen. The euro likewise decreased against the British pound, moving from 86.68 to 86.45 pence.

Natural gas prices at the Title Transfer Facility (TTF) in the Netherlands fell 4.3% to €56.68 per megawatt-hour.

The contrasting reactions in European markets were highlighted by a decline in energy and defense company stocks on the London Stock Exchange.