NEW YORK, United States — Oil prices fell and stock markets rallied Wednesday on reports of a US plan to end the war with Iran. Tehran promptly rejected Washington’s overtures, according to state media.
After nearly four weeks of conflict, investors jumped on signs that hostilities could be winding down, with the safe-haven dollar losing support.
Analysts noted, however, the arrival of more US troops in the Middle East. They said this and fresh missile strikes between Iran and Israel suggested that the path forward was far from clear.
US President Donald Trump on Wednesday threatened to “unleash hell” if Iran did not strike a deal. But Tehran’s Foreign Minister Abbas Araghchi said his country did not intend to negotiate.
Moreover, an unnamed Iranian military official told local media that Tehran would target shipping in the Red Sea if Washington launched a ground invasion.