Dow Futures Jump Over 200 Points, Oil Slips To $89 As Trump Extends Iran Ceasefire, But Tehran Calls It ‘Ploy To Buy Time’
Benzinga09:46 PM ET, 04/21/2026
Late Tuesday, U.S. stock futures climbed as easing fears of an immediate escalation in the Middle East lifted sentiment, even as tensions between Washington and Tehran remained high.
Futures Rise As Investors Weigh Geopolitical Relief
Dow futures rose 233.00 points, or 0.47%, to 49,572.00, while S&P 500 futures gained 37.50 points, or 0.53%, to 7,137.50 and Nasdaq 100 futures advanced 176.25 points, or 0.66% as of 8:33 p.m. EDT.
In commodities, WTI crude oil slipped 0.33% to $89.37 per barrel. Brent crude edged down 0.20% to $98.28 per barrel.
RBOB gasoline futures declined 0.76% to $3.1853 per gallon, while natural gas futures fell 0.56% to $2.682 per MMBtu.
ULSD heating oil bucked the trend, rising 0.45% to $3.7457 per gallon.
Meanwhile, the U.S. dollar index stood at 98.325, down 0.08%.
Asian markets were lower, with Japan's Nikkei 225 slipping 0.07% to 59,307.45, while South Korea's KOSPI fell 0.13% to 6,380.34.
Trump Extends Ceasefire, Keeps Pressure On Iran
Donald Trump said he has extended the ceasefire with Iran just hours before its expiration, citing ongoing diplomatic efforts.
In a post on Truth Social, he said the pause would remain in place "until such time as their leaders… come up with a unified proposal."
However, Trump also confirmed that the U.S. Navy's blockade of Iranian ports would continue, a move Tehran has described as an act of war.
Source: Truth Social
Tehran Pushes Back, Calls Move A ‘Ploy'
Iranian officials appeared skeptical of the extension.
Mahdi Mohammadi, an adviser to parliament speaker Mohammad Baqer Qalibaf, said the move was "a ploy to buy time for a surprise strike," warning that Iran could respond forcefully to the ongoing blockade.
تمدید آتش بس از جانب ترامپ هیچ معنایی ندارد. طرÙ? بازنده نمی تواند شرایط تعیین کند. تداوم Ù…Øاصره تÙ?اوتی با بمباران ندارد Ùˆ باید به آن پاسخ نظامی داد. ضمن اینکه تمدید آتش بس از جانب ترامپ قطعا به معنای خرید زمان به منظور ضربه غاÙ?لگیرانه است. زمان ابتکار عمل ایران است.
— Mahdi Mohammadi (@mmohammadii61) April 21, 2026
There was no immediate response from Iran's top leadership, but state-linked media reiterated threats to break the blockade, Reuters reported.
Pakistan Steps In As Mediator, Again
Pakistan's Prime Minister Shehbaz Sharif said the ceasefire extension followed Islamabad's request to allow diplomacy to continue.
"I sincerely hope that both sides will continue to observe the ceasefire and be able to conclude a comprehensive ’Peace Deal' during the second round of talks scheduled at Islamabad for a permanent end to the conflict," he said on X.
On my personal behalf and on behalf of Field Marshal Syed Asim Munir, I sincerely thank President Trump for graciously accepting our request to extend the ceasefire to allow ongoing diplomatic efforts to take their course.
With the trust and confidence reposed in, Pakistan…
— Shehbaz Sharif (@CMShehbaz) April 21, 2026
However, there was no clarity on when—or even whether—the second round of talks would take place.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Also:Will Iran Let Ships Through In The Strait Of Hormuz? Here's What Prediction Market Is Saying
Image via Shutterstock/ noamgalai
© 2020 Benzinga.com - Benzinga does not provide investment advice. All rights reserved.
