Stocks rally, oil drops on Mideast war optimism

## Summary
Advertisement World Stocks rally, oil drops on Mideast war optimism Global stocks rose and oil prices fell after US President Donald Trump said the Middle East war could end soon. Click here to return to FAST Tap here to return to FAST FAST NEW YORK: Global stocks rallied and oil prices fell Wednesday (Apr 1) after US President Donald Trump said the Middle East war that has roiled markets could be over within weeks - despite Tehran pushing back against his comments on a ceasefire . Related: Trump to address nation as Iran war batters approval Trump says US may exit Iran war soon, threatens to quit NATO as oil crisis escalates Tom Cahill, from Ventura Wealth Management, told AFP markets were due to pull back some ground after being "oversold." "When news came out about a potential ceasefire in the war in the Middle East, that obviously was the catalyst to drive the market higher," he said. Source: AFP/fs Sign up for our newsletters Get our pick of top stories and thought-provoking articles in your inbox Subscribe here Get the CNA app Stay updated with notifications for breaking news and our best stories Download here Get WhatsApp alerts Join our channel for the top reads for the day on your preferred chat app Join here Related Topics Stocks US-Israel war on Iran oil prices Advertisement Also worth reading Content is loading...

## Article Content
Advertisement
World
Stocks rally, oil drops on Mideast war optimism
Global stocks rose and oil prices fell after US President Donald Trump said the Middle East war could end soon.
Currency traders watch monitors near a screen at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, Apr 1, 2026. (Photo: AP/Ahn Young-joon)
02 Apr 2026 05:08AM
Bookmark
Bookmark
Share
WhatsApp
Telegram
Facebook
Twitter
Email
LinkedIn
Set CNA as your preferred source on Google
Add CNA as a trusted source to help Google better understand and surface our content in search results.
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
NEW YORK: Global stocks rallied and oil prices fell Wednesday (Apr 1) after US President Donald Trump said the Middle East war that has roiled markets could be over within weeks - despite Tehran
pushing back against his comments on a ceasefire
.
Wall Street's main indices closed higher, building on major gains from the previous day.
In Europe, Frankfurt and Paris both jumped more than two per cent, while London rose 1.9 per cent.
That came after Asian markets closed sharply higher, with Seoul soaring more than eight per cent, Tokyo up five per cent and Chinese stocks also rising.
Oil prices fell, with international benchmark Brent for June delivery down 2.7 per cent after falling as much as five percent earlier. The main US contract WTI dropped 1.2 per cent.
Trump said Tuesday that the United States could end operations in Iran within "two weeks, maybe three," and claimed that the Islamic republic was seeking a ceasefire, a statement denied by Tehran.
The White House said Trump would address the nation on Wednesday "to provide an important update on Iran."
The US president has frequently U-turned after making policy statements, particularly with regards to foreign relations and military operations, a trait that has roiled markets.
Related:
Trump to address nation as Iran war batters approval
Trump says US may exit Iran war soon, threatens to quit NATO as oil crisis escalates
Tom Cahill, from Ventura Wealth Management, told AFP markets were due to pull back some ground after being "oversold."
"When news came out about a potential ceasefire in the war in the Middle East, that obviously was the catalyst to drive the market higher," he said.
The economic impact of the conflict is worsening, with average US gasoline prices topping US$4 a gallon this week for the first time in four years, European inflation spiking and governments unveiling a range of support measures.
Iranian President Masoud Pezeshkian said the country had the "necessary will" to end the war, provided its enemies guaranteed it would not flare up again.
But Israeli Prime Minister Benjamin Netanyahu insisted that Israel would
press ahead with its military campaign
and that "we will continue to crush" the Iranian government.
Traders remained wary as fresh strikes hit Tehran on Wednesday, and an oil tanker off the coast of Qatar was struck by an Iranian missile.
"Despite today's relief wave on markets, deep problems remain," said Susannah Streeter, chief investment strategist at Wealth Club.
She said elevated crude prices, still about 50 per cent above pre-war levels, "signals that scepticism still remains about Trump's claims of progress, and worries persist about how extraction from the conflict is still set to be complex".
Related:
Trump threatens to obliterate Iran's oil wells, Kharg island if no deal
FOREX.com analyst Fawad Razaqzada said there was still a long way to go before oil prices could come back down to levels before the conflict.
"There's simply too much uncertainty, both in terms of supply disruption and geopolitical escalation, for prices to meaningfully reset lower just yet," he said.
In company news, shares in Chinese artificial intelligence startup Zhipu, which went public in January, soared more than 32 per cent after it said revenue from its cloud business almost tripled last year.
Source: AFP/fs
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Subscribe here
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Download here
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Join here
Related Topics
Stocks
US-Israel war on Iran
oil prices
Advertisement
Also worth reading
Content is loading...
Advertisement
Expand to read the full story
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST

---

## Expert Analysis

### Merits
- The White House said Trump would address the nation on Wednesday "to provide an important update on Iran." The US president has frequently U-turned after making policy statements, particularly with regards to foreign relations and military operations, a trait that has roiled markets.
- She said elevated crude prices, still about 50 per cent above pre-war levels, "signals that scepticism still remains about Trump's claims of progress, and worries persist about how extraction from the conflict is still set to be complex".

### Areas for Consideration
N/A

### Implications
- Advertisement World Stocks rally, oil drops on Mideast war optimism Global stocks rose and oil prices fell after US President Donald Trump said the Middle East war could end soon.
- Click here to return to FAST Tap here to return to FAST FAST NEW YORK: Global stocks rallied and oil prices fell Wednesday (Apr 1) after US President Donald Trump said the Middle East war that has roiled markets could be over within weeks - despite Tehran pushing back against his comments on a ceasefire .
- Trump said Tuesday that the United States could end operations in Iran within "two weeks, maybe three," and claimed that the Islamic republic was seeking a ceasefire, a statement denied by Tehran.
- The White House said Trump would address the nation on Wednesday "to provide an important update on Iran." The US president has frequently U-turned after making policy statements, particularly with regards to foreign relations and military operations, a trait that has roiled markets.

### Expert Commentary
This article covers oil, war, prices topics. Notable strengths include discussion of oil. Readability: Flesch-Kincaid grade 0.0. Word count: 780.