Oil dumps, equity (futures) jump.
From the Journal's more technical (analysis) little bro, Investor's Business Daily, March 30:
President Donald Trump has told aides he's willing to end the Iran war even if the Strait of Hormuz remains closed, the Wall Street Journal reported, citing administration officials.
Dow Jones futures turned solidly higher on the Monday night report that suggests a near-term end to hostilities, even if Iran keeps a chokehold on the strait. Crude oil prices reversed lower.
Trump and his aides believe that military operations to open the Strait would push the Iran conflict beyond his timeline of four to six weeks. The president has military options, but they're not his priority, administration officials told the WSJ.
According to the report, Trump has decided the U.S. should achieve its goals of crippling Iran's navy and missiles, then wind down hostilities while putting diplomatic pressure on Tehran to reopen Hormuz. If that doesn't work, Washington would push allies in Europe and the Gulf to take on reopening the strait....
....MUCH MORE
Both Brent and WTI are down around 2%, S&P 500 and DJIA futures are up around 1%.
The Nikkei is up 0.2%.
Possibly related, March 21:
"Trump Signals Endgame in Iran, Says Hormuz Security Will Fall on ‘Nations Who Use It’"
