Oil prices have gone down, while stocks are rising and bonds are becoming stronger after the United States and Iran agreed on a two-week ceasefire. This move is expected to help bring peace to the Middle East.

However, it is still not clear how this agreement will affect Nigerians. Many people in Nigeria are already struggling, as fuel prices increased to between N1300 and N1400 due to the conflict.

Earlier, as the deadline was getting close, Donald Trump announced on social media that he had agreed to stop attacks on Iran for two weeks.

Soon after, a statement linked to Iran’s Supreme Leader, Mojtaba Khamenei, confirmed that Iran had accepted the ceasefire and is ready to begin talks with the US for lasting peace.

Following this development, US crude oil prices dropped by about 9 percent to around $103 per barrel. At the same time, S&P 500 futures increased by 1.6 percent, while the US dollar weakened.

Stock markets in Asia are also expected to rise, as early indicators show gains across the region. In addition, US 10-year Treasury futures also recorded a noticeable increase.

Details about the ceasefire are still limited at the moment, leaving some uncertainty in the market.

Despite this, Iran has promised to allow safe movement of ships through the Strait of Hormuz for two weeks. This period will be used to hold peace talks with the US, which are expected to begin in Islamabad.

Meanwhile, investors are watching closely as Asian markets prepare to open, hoping for more positive reactions to the ceasefire news.