- Stock markets reacted positively to the announcement, climbing higher in the extended trading hours.
- Trump earlier on Thursday had said that Iranian negotiators were being strange, even as the country was “begging” for a deal.
- However, Iran had reportedly called the U.S. ceasefire proposal an “extremely maximalist and unreasonable” on Wednesday, while making its own demands for ending the war in the Middle East clear.
U.S. President Donald Trump said on Thursday that he will pause the period of energy plant destruction in Iran for 10 days.
In a post on Truth Social, the president said that the U.S. would pause its strikes on Iran’s energy infrastructure till April 6, Monday, 8 P.M. EST, upon the Iranian government’s request.
Stock markets reacted positively to the announcement, climbing higher in the extended trading hours. The SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.27% at the time of writing, while the Invesco QQQ Trust ETF (QQQ) climbed 0.24%, and the SPDR Dow Jones Industrial Average ETF Trust (DIA) was up 0.32%.
“Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well,” Trump said.
Earlier on Monday, Trump had announced a five-day pause on U.S. attacks on Iran’s power plants and energy infrastructure, which was due to end Friday.
Iran’s Negotiations
Trump earlier on Thursday had said that Iranian negotiators were being strange, even as the country was “begging” for a deal. However, Iran had reportedly called the U.S. ceasefire proposal an “extremely maximalist and unreasonable” on Wednesday, while making its own demands for ending the war in the Middle East clear.
The 15-point U.S. ceasefire proposal to Iran, delivered in March 2026, included a full sanctions relief and removal of UN snapback mechanisms. In exchange, Iran would have to dismantle major nuclear sites, end uranium enrichment, limit missile programs, and stop support for regional proxies.
Iran turned down the proposal, instead asking for a full cessation of aggression and assassinations in the country, a mechanism to ensure the war against Iran would not restart, reparations for the damage caused so far, the recognition of Iran’s sovereignty over the Strait of Hormuz, among other demands.
Crude Oil Highs
The U.S.-Israel’s war against Iran has entered its 27th day, with intense hostilities continuing on both sides. The blockade of the Strait of Hormuz, one of the world’s most important shipping routes, has choked energy supplies, and sent the prices of oil soaring.
Crude oil prices have been rising steadily since the start of the war. At the time of writing, U.S. West Texas Intermediate (WTI) crude futures maturing in May were trading around $94.48 per barrel. Meanwhile, Brent crude futures expiring in June rose about 4.4% to $106.62 per barrel.
The United States Oil Fund ETF (USO) declined about 0.32% after-hours on Thursday at the time of writing.
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