U.S. stocks hit new highs, oil falls as Trump nears Iran decision

U.S. stocks reached intraday record highs and crude oil prices declined after President Donald Trump posted on Truth Social that he was heading to the Situation Room to make a ‘final determination’ on a proposed framework with Iran.

The S&P 500 and Nasdaq Composite each rose about 0.3%, while the Dow Jones Industrial Average gained roughly 353 points, or 0.7%. All three major indexes touched fresh intraday highs during the session. Technology shares led gains and helped lift the broader market.

U.S. West Texas Intermediate crude futures fell about 2% to near $86 per barrel and Brent crude dropped roughly 2% to about $91 per barrel. Oil prices have been sensitive to developments around the Strait of Hormuz, a major global shipping route for energy supplies.

In his post, Trump said he was heading into the Situation Room to make a ‘final determination’ on a proposed framework intended to end the conflict and address security and energy issues. He wrote that the framework would require Iran to permanently forgo the capability to build nuclear weapons and would guarantee that the Strait of Hormuz remain open to unrestricted shipping.

The post said the U.S. naval blockade imposed during the conflict would be lifted under the plan. It outlined recovery and destruction of enriched nuclear material buried at Iranian sites in coordination with Iran and the International Atomic Energy Agency, and stated that no money would be exchanged as part of the arrangement. The message indicated other provisions had already been agreed.

Reports that Iranian forces launched missiles late Thursday were noted during the trading session. Markets still moved higher after the president’s post; participants said they were waiting for formal details and confirmation of terms before making longer-term adjustments.

Market participants said the next focus will be whether the preliminary framework can be turned into a formal agreement with verification measures. Traders will monitor any official diplomatic follow-up and on-the-ground developments in the region for effects on equities and energy markets.