Iran war update: Trump announces two-week ceasefire
US Iran ceasefire news boosts markets as Donald Trump eases tensions, Strait of Hormuz reopens, and oil prices fall amid fragile peace hopes.
Two-week ceasefire announced from the side of US President. Tehran agrees to give safe transit through the Strait of Hormuz.
On late Tuesday (April 7, 2026), U.S. President Donald Trump stepped back from plans for key military action against Iran.
It will ease out the tensions just hours before his challenge to Tehran was set to expire. He said the shift followed conversations with Shehbaz Sharif and Asim Munir, which influenced his decision to avoid more escalation.
Tehran said on Wednesday (April 8, 2026), as Iran's war live updates its 10-point plan for securing an end to the war with the US, would need Washington to believe its uranium enhancement program and the lifting of all approvals.
On Wednesday (April 8, 2026), Pakistan’s Prime Minister Shehbaz Sharif said that the US, Iran and their allies had agreed to a ceasefire “everywhere”.
Earlier, Mr Trump said on April 4, 2026, that Tehran had 48 hours left to cut a contract or face “all Hell”, as U.S. and Iranian forces mix up to discovered American airman. Later on, on Tuesday (April 7, 2026) that “a whole civilisation will die” if Iran does not admit its deal and reopen the Strait of Hormuz before the deadline of 8 p.m.
Trump announced a “big day for world peace,” said the U.S. “will be assisting with the traffic buildup” in Hormuz, an important oil trade route. Iran said passage will be permitted if vessels coordinate with its armed forces. However, it wasn’t clear if Tehran would charge fees or even restrict the traffic.
After this US-Iran ceasefire news, the cost of oil dropped, and stock prices soared this morning in response to the ceasefire, despite doubt over the deal and the future for long-term economic markets from the 5 weeks of war.
