Oil prices plunged and U.S. stock futures jumped after President Donald Trump held off on his threat of devastating attacks on Iran. U.S. crude oil futures fell more than 15%. Futures for the S&P 500 were up 2.

Oil futures settled mixed in a jittery market with the approach of President Trump’s 8 p.m. ET deadline for Iran to open the Strait of Hormuz or face major strikes against the country’s infrastructure.

U.S. oil prices were moving lower but still traded above $110 per barrel on Monday morning as negotiators reportedly intensified efforts to broker a cease-fire following President Donald Trump’s threats to civilian infrastructure.

US President Donald Trump issued new threats and mused about negotiations at a White House press conference Monday as the war with Iran continues. Earlier, Tehran rejected a temporary ceasefire proposed by negotiators,

U.S. oil prices settled higher Tuesday as Iran appeared to reject a temporary ceasefire and President Donald Trump ramped up threats with just hours remaining before his 8 p.m. Eastern time deadline for a peace deal.

The economic fallout from President Donald Trump’s war in Iran may last for years, economists have warned. While the president and members of his administration have promised a quick recovery, industry analysts say there are damaging ripple effects after the closure of the strategically important Strait of Hormuz in the Persian Gulf sent gas and oil prices soaring.

Oil prices jumped and stocks slumped on Tuesday after US-Israeli strikes on the key Iranian oil export terminal of Kharg island, with investors bracing for US President Donald Trump's looming

Iran on Monday rejected a 45-day ceasefire proposal and said it wants a permanent end to the war, even as Israel attacked a major gas field and U.S. President Donald Trump’s ultimatum to open the