Iranian President reiterates his demand for a ceasefire, sends oil prices plummeting

 Direct translation

Iranian President's sudden statement sends Dow Jones soaring, oil prices plummeting

Editor: Fang Xun / Source: World Journal / https://www.aboluowang.com/2026/0401/2366725.html / Image : Photo of Iranian President Pezesikorn, by Xinhua News Agency

Iranian media outlet IRNA reported that Iranian President Pezesikorn issued a statement on 31 March 2026 reiterating his demand for a ceasefire, causing oil prices to plummet, U.S. stocks to rise further, and the dollar index to fall below the 100-point mark.

The message from Iran is very clear: Iran is not seeking war and is prepared to end it, but only on the condition of formal security guarantees to protect the country from further attacks.

The semi-official Iranian Students' News Agency (ISNA) reported a day earlier that the Iranian president stated at a cabinet meeting on 30 March 2026 that Iran has at least two preconditions for ending the war: "Any decision on whether to end the war must be made after considering all established conditions, and on the premise of upholding the dignity of the great Iranian nation and ensuring Iran's security and interests."

Brent crude oil futures for June delivery fell further, at one point exceeding 4%, while West Texas Intermediate crude also declined; the Dow Jones Industrial Average surged 1,102 points, or 2.4%; the Philadelphia Semiconductor Index and TSMC ADRs jumped 5%.

Earlier, the U.S. had been consistently releasing messages indicating its desire to end the war: Trump posted a message suggesting countries buy US oil, or "go to the Strait of Hormuz and take it down themselves"; the U.S. Secretary of Defense stated that diplomatic negotiations to end the war had made significant progress; and US media had previously reported that Trump had indicated to his staff that he was willing to end military action against Iran even if the Strait of Hormuz remained blocked.

U.S. Trade Representative Greer, in an interview on 31 March 2026, also stated that preparations for the Trump-Xi meeting were progressing smoothly, downplaying the possibility of a further postponement of the meeting between the two leaders.