Trump noted that the "double sided" ceasefire was contingent on Iran agreeing to an opening of the Strait of Hormuz.

Earlier, U.S. stocks swung sharply during regular trading as uncertainty about the war with Iran increased after Trump had threatened that a “whole civilization will die tonight."

President Donald Trump had threatened to destroy Iran's entire civilization if his 8 p.m. ET deadline to reopen the Strait of Hormuz is not met.

Trump noted that the "double sided" ceasefire was contingent on Iran agreeing to an opening of the Strait of Hormuz.

Investors welcome the possible resumption of oil and gas flows through the Strait of Hormuz.

Brent crude oil dropped to $93 a barrel after US president’s announcement and Iran’s pledge to reopen strait of Hormuz under its management

US president’s decision contingent on Tehran agreeing to two-week ceasefire and reopening Strait of Hormuz

The latest reading of the personal consumption expenditure price index, the Fed's favored inflation gauge, is due out at 8:30 a.m. ET Thursday morning.

Stocks extended their rally on Thursday after President Donald Trump agreed to a two-week ceasefire with Iran.