Just a few hours later, a reversal! Trump announces cancellation of strike plans against Iran and that negotiated terms have been approved by all parties; U.S. stocks surge, oil prices plunge.

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In just a few hours, U.S. President Trump staged a dramatic reversal.

On Thursday, June 11, during U.S. stock market trading hours, according to CCTV, Trump posted on social media that, given consultations with Iran had been submitted to Iran's supreme leadership and approved, as President of the United States, he had canceled the planned strike and bombardment against Iran scheduled for later that evening.

This was less than five hours after Trump had previously posted on social media announcing that there would be a "very fierce" attack on Iran Thursday night.

After Trump announced the cancellation of the plan to attack Iran, financial markets reacted quickly. The three major U.S. stock indices surged during trading, each rising more than 1%. International crude oil futures plummeted, both WTI and Brent oil returned to intra-day losses, with declines exceeding 3%.

In addition to deciding to cancel the strike against Iran, Trump also stated that, except for Iran, the final terms of U.S.-Iran consultations had obtained approval from the U.S. and Arab allies, and the U.S. would continue to fully implement the maritime blockade against Iran. Trump wrote in his post:

"The relevant consultations and finalized terms—both in overall conception and specific details—have been approved by all parties, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, etc. Until the agreement is finally settled, the maritime blockade will continue to be fully and effectively enforced—the signing time and place will be announced at a later date."

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