{
  "id": 88880,
  "title": "Oil tumbles and stock futures surge after Trump said Iran deal was near",
  "url": "https://urgent.news/2026/08/03/oil-tumbles-and-stock-futures-surge-after-trump-said-iran-deal-was",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-03T13:44:13.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/08/03/oil-tumbles-and-stock-futures-surge-after-trump-said-iran-deal-was-near/"
  },
  "original_language": "en",
  "account": "U.S. markets showed signs of improvement as oil prices declined sharply on Monday following President Donald Trump's announcement regarding Iran and a potential deal to end the fighting. The S&P gained 0.6%, while Dow Jones Industrial Average futures rose 1.1%, and Nasdaq futures increased by 0.3%. In Asia, Japan's Nikkei 225 index dropped 0.9%, and the U.S. dollar weakened against the yen after both nations took action to support the value of the Japanese yen against the dollar. Oil prices have experienced significant fluctuations since the U.S. and Israel launched attacks on Iran in late February, with Trump's shifting stance on the conflict contributing to the price swings. Brent crude, the global benchmark, fell by 4.9% to $83.66 per barrel, while U.S. benchmark crude dropped 5.8% to $79.81 per barrel. The U.S. dollar fell to 156.79 yen by late Monday, after rising to a 40-year high of 164 yen last week. The U.S. Treasury, through the Federal Reserve Bank of New York, purchased yen to strengthen its value, signaling that Washington is prepared to support the yen alongside Japan. This move benefits Japanese companies with significant overseas operations, as a weaker yen boosts their profits and value in yen terms. However, a depreciating currency also undermines Japan's purchasing power, leading to higher costs for imported goods, including oil. The dollar's strength as a safe haven for investors during uncertain times like war has also contributed to its appreciation.",
  "summary": "Brent crude fell 4.9% to $83.66 and U.S. crude dropped 5.8% to $79.81 as Dow futures rose 1.1% ahead of Monday's open while Asian markets fell.",
  "key_points": [
    "Oil prices plummeted 4.9% to $83.66 per barrel",
    "S&P 500 and Dow Jones futures rose 0.6% and 1.1%",
    "U.S. dollar weakened to 156.79 yen against Japanese yen"
  ],
  "editors_take": "A potential Iran deal buoyed market sentiment, lifting US stock futures and weighing on oil prices, with a weaker dollar also propping up Japanese stocks and benefiting some domestic companies.",
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "CNBC",
        "title": "Dow futures jump 500 points after Trump calls off planned attacks, oil prices slide: Live updates",
        "url": "https://urgent.news/2026/08/03/dow-futures-jump-500-points-after-trump-calls-off-planned-attacks-oil",
        "published": "2026-08-03T11:52:31.000Z"
      },
      {
        "outlet": "Live Mint",
        "title": "Trump tells oil companies to ‘get retail prices down now,’ criticizes Chevron CEO Mike Wirth",
        "url": "https://urgent.news/2026/08/03/trump-tells-oil-companies-to-get-retail-prices-down-now-criticizes",
        "published": "2026-08-03T14:49:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}