00:00With just 90 minutes until Tuesday's looming 8 p.m. deadline for U.S. strikes in Iran, President Donald Trump
00:06announced a two-week ceasefire.
00:09In a post on Truth Social, Trump said the deal is, quote,
00:13"...subject to the Islamic Republic of Iran agreeing to the complete, immediate, and safe opening of the Strait of Hormuz."
00:20Stock futures surged and oil prices plunged after the announcement.
00:24The Dow shot several hundred points upward, and WTI crude futures slid by 15% to about $96 a barrel.
00:33The impact on U.S. gas prices is still unclear, with the national average now above $4 a gallon.
00:40This after the world was on edge all day after Trump's Tuesday morning post that said, quote,
00:46"...a whole civilization will die tonight, never to be brought back again if the Iranian government didn't open the Strait
00:53of Hormuz."
00:54The ceasefire comes after weeks of war with Iran, where 13 U.S. service members have already been killed.
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