Oil prices fall sharply after Trump announces two-week Iran war ceasefire

US, Iran agree to two-week ceasefire as Trump pulls back on his threats

The US and Iran on Wednesday agreed to a two-week ceasefire, reaching a deal just hours before President Donald Trump's deadline and threatened destruction of Iranian "civilisation" if Tehran failed to unblock the Strait of Hormuz. Details of the Pakistan-brokered agreement are set to be negotiated in Islamabad on Friday. Israeli Prime Minister Benjamin Netanyahu said the truce deal does not include Lebanon.

Despite High Oil Prices and Volatile Stocks, Companies See Openings for Deals

Bankers say companies are braving higher oil prices and whipsawing stock prices to seize on the willingness of federal antitrust enforcers to approve mergers.

First Thing: Trump launches tirade against Europe for not joining Iran war

<p>Some European countries have blocked Israeli and US planes from moving weapons through their airspace. Plus, a rocket heads to the moon on Wednesday for the first time since 1972</p><p>Good morning.</p><p>Donald Trump has <a href="https://www.theguardian.com/world/2026/mar/31/trump-launches-tirade-against-european-countries-not-joining-iran-war">launched a tirade against European countries</a> that refused to join the Israel-US war against Iran, calling out the UK and France, as transatlantic relations continue their downward spiral and the war wreaks havoc on the global economy.</p><p><strong>What pushback has there been from Europe?</strong> France has blocked Israeli planes from flying weapons through its airspace, while Italy refused last-minute permission for US bombers to land in Sicily. Spain has already <a href="https://www.theguardian.com/world/2026/mar/30/spain-closes-airspace-to-us-military-over-iran-war-widening-rift-with-us">denied the US use of its bases and airspac...

Pope says Trump’s threat to destroy Iranian civilization is ‘unacceptable’ - AP News

<a href="https://news.google.com/rss/articles/CBMioAFBVV95cUxNeXIxTklnblRfcWx0YUxoSzA4ajRhcURNYmVzdUQ1TTZMd2k1UjdFOXZ1TnA5MWhWTWZCbjkwbW1VSWZSVUxaZl9rUEtNWTNZeHBSdDZoMHFrcXZVQnRfdmUyUkp2a3U3T3lKS1FTdUR0b0JGVFc3elJaWkYtbFJuQ25KM2l2b3M0RjN1eXFUNnIxc052UHc0bk1LWEllM2hN?oc=5" target="_blank">Pope says Trump’s threat to destroy Iranian civilization is ‘unacceptable’</a>&nbsp;&nbsp;<font color="#6f6f6f">AP News</font>

Ukraine Ramps Up Attacks on Russian Oil, Aiming to Curb Iran War Windfall - The New York Times

Track current petrol and diesel prices, service station outages and shipments – Australia's fuel crisis in charts

<p>How much fuel does Australia have left today, and when could we run out? Check how much petrol and diesel prices have risen near you in Sydney, Melbourne and across the country since the US and Israel’s war on Iran began in late February</p><ul><li><p>Get our <a href="https://www.theguardian.com/email-newsletters?CMP=cvau_sfl">breaking news email</a>, <a href="https://app.adjust.com/w4u7jx3">free app</a> or <a href="https://www.theguardian.com/australia-news/series/full-story?CMP=cvau_sfl">daily news podcast</a></p></li></ul><p>Hundreds of service stations across Australia have run empty, fuel prices are elevated and oil shipments have been cancelled.</p><p>Australia is battling a fuel crisis as Iran’s closure of the strait of Hormuz continues to bite. The federal government has <a href="https://www.theguardian.com/australia-news/2026/mar/13/australia-to-release-nearly-20-of-fuel-stockpile-as-bowen-insists-country-nowhere-near-running-out">released</a> fuel reserves, cut fuel exc...