Evening Briefing Americas

Oil Falls, Stocks Rise as Trump Changes Tune on War

After markets dived and oil neared $120 a barrel, Trump said the war with Iran might be over soon.

A destroyed school building in Minab, Iran, on March 5. Reports by the New York Times and Associated Press have said the school, where 165 people died, was likely hit in a US attack. The Pentagon has said it is investigating. — A destroyed school building in Minab, Iran, on March 5. Reports by the *New York Times* and *Associated Press* have said the school, where 165 people died, was likely hit in a US attack. The Pentagon has said it is investigating.Source: Anadolu/Getty Images

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By David Rovella

March 9, 2026 at 10:19 PM UTC

With markets diving and oil up around $120 a barrel to start the week, Donald Trump on Monday changed his tune about a war that—just days ago—he and his aides had said was only getting started, with the biggest strikes yet to come.

Having started the war along with Israeli Prime Minister Benjamin Netanyahu, the US president today appeared to be walking back threats to bomb other regions of Iran, as he threatened Saturday. Instead, the Republican signaled that the war could be ending soon, saying the campaign was now ahead of schedule. It was also disclosed Monday that Trump had spoken with Kremlin leader Vladimir Putin about the war, their first call of the year.