Stocks Climb as Oil Nears $100 on Iran Truce Extension

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On April 22, 2026, global markets stirred as the Iran ceasefire extension lifted sentiment, pushing stocks higher while oil hovered near the $100 mark amid supply uncertainty.

Stocks Rally While Oil Holds Firm Near $100

A surprising extension of the Iran ceasefire by Donald Trump injected cautious optimism into global markets, nudging U.S. stock futures upward while keeping oil prices elevated. With the Strait of Hormuz still shuttered, crude hovered close to $100, underscoring persistent supply concerns despite easing geopolitical tension.

S&P 500 futures climbed 0.4%, and Nasdaq futures advanced 0.5%, reflecting renewed appetite for risk. Yet, the mood remained tempered. The ceasefire—initially launched two weeks earlier—appears unilateral, leaving uncertainty over broader acceptance.

A Fragile Calm or Just the Eye of the Storm?

Asian markets painted a mixed picture, with MSCI’s regional index slipping 0.7% after a recent peak, while key indices in Japan, South Korea, and Taiwan touched record highs on strong AI-driven momentum.

The Iran ceasefire continues to anchor sentiment, but with stalled negotiations and unclear commitments, markets appear to be navigating calm waters with an eye on the horizon.