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Trump: Iran Asked for a Cease-Fire
International oil prices fell as markets weighed continued hopes for a U.S.-Iran cease-fire.
On April 1 (local time) at the New York Mercantile Exchange, the June West Texas Intermediate contract fell $1.26, or 1.24%, to $100.12 a barrel. On the London ICE Futures Exchange, the June Brent contract dropped $2.93, or 2.82%, to $101.04 a barrel.
According to CNBC, President Donald Trump posted on Truth Social that Iran’s president had asked the United States for a cease-fire. He wrote: “We will consider a cease-fire proposal when the Strait of Hormuz is open, free and safe. Until then, we will utterly destroy Iran or return them to the so‑called Stone Age.”
The previous afternoon at the White House, he told reporters he expects U.S. forces to withdraw from Iran within two to three weeks.
Patrick Ryan, chief investment strategist at Madison Investments, said markets appear to be sensing that some form of resolution could emerge in the coming weeks.
But the situation remains uncertain. As Trump’s comments make clear, if negotiations fail the U.S. could continue military strikes. Iran’s Islamic Revolutionary Guard Corps immediately responded to the “Stone Age” remark, saying, “The Strait of Hormuz is under our control.”
Michael Feller, founder of Geopolitical Strategy, warned that an early U.S. withdrawal would amount to admitting defeat, and that striking civilian infrastructure — as Trump threatened earlier this week — would only push oil prices higher without changing the strategic picture.
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