Oil markets erased over $1 trillion from their market cap in minutes after the news went viral.
Financial markets faced more volatility in the past hour or so, including bitcoin, which just jumped to a five-day peak of $68,500 before it was stopped and driven south by a grand.
The most likely reason for these enhanced fluctuations was the emerging reports that Iran’s President Pezeshkian said his country is ready to end the war with the US if it receives certain guarantees.
However, the details about the nature of these guarantees are quite scarce, with analysts expecting more information in the following hours.
BREAKING: Iran’s President Pezeshkian says Iran is ready to end the war with the US but wants guarantees.
US stocks are surging on the news. pic.twitter.com/O1cePDFw6Q
— The Kobeissi Letter (@KobeissiLetter) March 31, 2026
Aside from BTC, which rose by a few grand before it was rejected, the S&P 500 went on a wild run, surging from 6,320 to 6,520 in minutes. In contrast, oil prices dumped by 5% in minutes.
USOIL dropped from $105 per barrel to under $100 before it recovered some ground to $102 as of now. These are multi-trillion-dollar moves in the matter of hours, which included another one from earlier today – a drop from $107 to $101 and a subsequent rebound to $105.
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About the author
Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato’s Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain.
