U.S. markets were poised to open with strong gains and oil prices fell sharply Monday after President Donald Trump said he would order U.S. forces to refrain from attacks against Iran and that another deal to end the fighting was near, according to an article by the Associated Press.
Futures for the S&P rose 0.6%, while futures for the Dow Jones Industrial Average climbed 1.1%. Nasdaq futures were up 0.3% before the opening bell Monday.
Monday’s retreat in oil prices was the latest of many big swings since the U.S. and Israel attacked Iran in late February.
On-and-off fighting and comments from Trump about which way the conflict was heading have been the major drivers of rising and falling oil prices.
