Oil prices dropped below $100 a barrel as the US and Iran agreed on a two-week cease-fire, causing stocks to surge in relief. The deal was reached after President Trump said the US would suspend attacks against Iran if Tehran re-opens the Strait of Hormuz, a critical oil shipping route.
Source: https://www.wsj.com/finance/stocks/oil-tumbles-stocks-surge-as-markets-greet-u-s-iran-cease-fire-with-optimism-b9ac56e5