Rolling coverage of the latest economic and financial news

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."

Investors relieved by news of two-week ceasefire and temporary reopening of strait of Hormuz

The main oil barrel indexes show a 15% average fall, while most markets worldwide, especially Asian markets, are opening up during early trading hours.

Rolling coverage of the latest economic and financial news

Gas prices also increase, while global stock markets slip back after strong rally on Wednesday

Benchmark U.S. crude was 3.1% higher on Thursday at $97.30 a barrel.

Blockages in the Strait of Hormuz have kept oil and natural gas stuck in the Persian Gulf, away from customers worldwide.

China faces possible inflationary spillovers, though its massive strategic stockpiling onshore and diversified sources of energy provided some cushion.

Rolling coverage of the latest economic and financial news