The US and Israel agreed to stop attacking Iran for two weeks on the condition of the "immediate" unblocking of the Strait of Hormuz, which caused oil prices to plummet by 15-20%.

President Trump has sharply escalated his aggressive rhetoric toward Iran over the past two days, threatening to destroy all civilization if Tehran does not make concessions by 8 p.m. Tuesday, U.S. time.

Yesterday, the US bombed military facilities on Kharg Island, where Iran's main export terminal is located, and the Israeli Air Force struck one of the gas power plants, a road bridge near Tabriz and a railway bridge near Yahyabad, the Amir Kabir, Bandar Imam, and Fajr petrochemical complexes, as well as the newest aluminum plant in Arak. Israeli aircraft destroyed about a dozen sections of railway tracks and bridges in Iran yesterday, explaining that this transport network was used to move launchers under the guise of civilian cargo and vehicles.

But an hour and a half before the deadline, Trump said that Iran was ready to cease fire for two weeks and begin negotiations, as well as open the Strait of Hormuz, after which Israel also joined the two-week truce.

Iranian Foreign Minister Araghchi said that safe passage through the Strait of Hormuz "will be possible subject to coordination with the Iranian Armed Forces and taking into account technical limitations. If the attacks on Iran are stopped, then our powerful armed forces will stop their defensive operations."

However, immediately after Trump's statement, Iran launched missiles at Israel and the Emirates, which was yet another confirmation that power in Iran now belongs neither to the Ayatollah's regime nor to the civilian administration of the President and Parliament, and the IRGC militants continue their war for survival.

According to Pakistan, which is the main mediator, talks between Iran and the US are scheduled for April 10 in Islamabad.

The markets reacted very optimistically to the announcement of a ceasefire and the resumption of passage through the Strait of Hormuz: oil prices fell by 15-20%, gold rose by 3.09%, and Bitcoin by 5%.

June Brent crude futures closed yesterday at $109/barrel (+56% since the start of the war), but fell sharply by 15% to $95/barrel after the ceasefire was announced, while May US WTI crude futures rose to $113/barrel (+71% since the start of the war) yesterday before falling even more - by 18% to $95.6/barrel. US crude prices have outperformed Brent prices amid tight Arab oil supplies and strong spot demand.