Markets embrace Iran ceasefire news despite ongoing strikes
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Iran's attacks on Gulf states appear to continue but traffic slowly resumes in the Strait of Hormuz after Trump announces a conditional ceasefire.
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Live Live Updates: Markets embrace Trump's announcement of Iran ceasefire despite new attacks on Gulf states By Tucker Reals Tucker Reals Editor Tucker Reals is CBSNews.com's foreign editor, based in the CBS News London bureau. He has worked for CBS News since 2006, prior to which he worked for The Associated Press in Washington, D.C., and London. Read Full Bio Tucker Reals April 8, 2026 / 6:56 AM EDT / CBS News Add CBS News on Google What to know about the Iran war today: Attacks on America's Persian Gulf allies continued Wednesday and there were reports of explosions on two Iranian islands in the Gulf after President Trump said he'd agreed to an immediate, conditional two-week ceasefire with Iran, but there were signs that shipping traffic was picking up in the vital Strait of Hormuz. Mr. Trump says the U.S. will hold talks with Iran during the ceasefire, calling a 10-point Iranian proposal a "workable basis on which to negotiate." Iran says the 10 points include a U.S. military pull-out from the region, some formalized control over the Strait of Hormuz and an end to U.S. and Israeli fighting against Iran and its regional allies. Israel has backed the ceasefire deal, but says it does not include an end to its ongoing war against Hezbollah, Iran's powerful ally in neighboring Lebanon, which it continues expanding. Energy and stock markets embraced the ceasefire news, with oil still trading well above pre-war levels but dropping below $100 a barrel. Stock markets in Asia and Europe soared and U.S. futures were up significantly. New Updates 0m ago Oil prices drop below the $100 a barrel mark as stocks soar on ceasefire news Oil prices plunged Wednesday, staying well above pre-war levels but dropping below the $100 a barrel mark, and stocks soared after the United States and Iran said they had agreed to a two-week conditional ceasefire that should see Tehran temporarily reopen the vital Strait of Hormuz. U.S. West Texas Intermediate lost almost 20% and global benchmar...
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