Trump extends Iran energy strike deadline to 6 April after oil surge hits Wall St
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The news: US President Donald Trump has extended his deadline for bombing Iran’s energy infrastructure from Friday to 6 April, saying in a Truth Social post the pause was “per Iranian Government request” and that talks were “going very well”.
The context: It is the second extension after the deadline was originally set for 23 March and came after oil prices surged and Wall Street stocks closed at a six-month low. That was after Trump earlier in the day had sent mixed signals on the war at a cabinet meeting, saying Iran was “begging to make a deal” but adding “I don’t know if we’ll be able to do that. I don’t know if we’re willing to do that.”
The numbers: The S&P 500 fell 1.7% in its worst daily decline since late January and the Nasdaq dropped 2.4%, entering technical correction territory at more than 10% below its October peak.
Brent crude settled 5.7% higher at USD108.01 a barrel, its biggest one-day jump since 11 March, according to the FT.
West Texas Intermediate climbed 4.6% to USD94.48. US Treasury yields also jumped on fears an oil-induced inflation shock could prompt the US Federal Reserve to raise rather than cut rates.
The sources: The Financial Times, Donald Trump´s post
