Dow Soars 500 Points, Crude Prices Fall Below $100 A Barrel After Trump Says Iran Negotiations In Final Stages

• West Texas Intermediate crude futures expiring in July fell 6% to $98 a barrel.
• Brent crude oil for July 2026 deliveries was down more than 5% at around $105 per barrel.
• While Trump indicated that negotiations with Iran were in the final stages, he warned that further attacks could follow if an agreement was not reached.

U.S. equities surged on Wednesday, while crude oil prices saw a sharp pullback after U.S. President Donald Trump said that his administration was in the “final stages” of negotiations with Iran.

The Dow Jones Industrial Average (DJIA) jumped more than 500 points, its biggest single-day gain in two weeks. The S&P 500 index gained around 0.8% while the Nasdaq Composite traded 1% higher at the time of writing.

U.S. West Texas Intermediate (WTI) futures fell below $100 a barrel, with contracts expiring in July 2026 down more than 6% to $98 per barrel. Meanwhile, Brent crude oil futures expiring in July were down more than 5% at around $105 per barrel.

Trump Says Iran Deal In Final Stages

According to a Reuters report on Wednesday, Trump said that negotiations with Iran were in the final stages, but warned that further attacks could follow if Tehran fails to agree to a deal.

“We're in the final stages of Iran. We'll see what happens. Either have a deal or we’re going to do some things that are a little bit nasty, but hopefully that won’t happen,” he told reporters.

“We're going to give this one shot. I'm in no hurry. Ideally I’d like to see few people killed, as opposed to a lot. We can do it either way,” he added.

Meanwhile, Iranian spokesperson Esmaeil Baghaei stated that the negotiations “are continuing through Pakistani mediators,” according to a report by Al Jazeera.

Baghaei added that Iran’s call for the lifting of sanctions imposed by the U.S. a “part of our rights,” stressing that Tehran views the removal of sanctions as a legitimate expectation rather than a concession.

At the time of writing, the SPDR S&P 500 ETF (SPY) gained 0.9%, the Invesco QQQ Trust ETF (QQQ) rose 1.4%, and the SPDR Dow Jones Industrial Average ETF Trust (DIA) rose 1.2%.

Retail sentiment on Stocktwits around SPY and QQQ was ‘extremely bullish’ territory, and ‘neutral’ for DIA.

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