Oil prices are tumbling after President Donald Trump announced a Israel-Iran ceasefire agreement. Oil prices were already falling after Iran launched strikes on a US airbase in Qatar. Markets saw Iran's strikes as a de-escalatory move as Tehran did not target the Strait of Hormuz.

Futures on Wall Street jumped after a positive overnight session as US President Donald Trump announced ceasefire timelines between Israel and Iran after what he termed as a "12-day War." Futures on the Dow Jones are up 165 points,

The price of oil rose and U.S. stock futures fell as global markets react to the U.S. strike against nuclear targets in Iran.