United States Oil Fund
In a post on Truth Social, Trump said the U.S. and Iran had engaged in constructive talks over the past two days, prompting him to order a temporary pause on all planned military action targeting Iranian power plants and energy infrastructure.
He noted that discussions would continue throughout the week and that the pause would depend on the progress of those talks.
A Major Shift After 3 Weeks Of Conflict
The announcement represents the most significant cooling of tensions since the conflict began. Oil futures immediately sank more than 8% on the news, while Dow futures jumped over 900 points as markets reacted to the possibility that the most volatile phase of the standoff may be easing.
The tone marks a dramatic reversal from just 48 hours earlier, when Trump warned Iran that failure to fully reopen the Strait of Hormuz would result in U.S. strikes on major Iranian power plants.
Shortly after Trump's announcement, Iran's Fars News Agency reported that Tehran has had no direct communication with the United States, either formally or through intermediaries.
USO Shares Slide Monday
USO Price Action: United States Oil shares were down 7.71% at $112.07 at the time of publication on Monday, according to Benzinga Pro.
