Details of the US-Iran ceasefire agreement announced, gold prices surge straight up, and international oil prices plummet...

Reuters, on the 6th, citing a source, said the United States and Iran have received proposals for a ceasefire agreement, which could take effect on the 6th. The plan is intended to first achieve an immediate ceasefire, reopen the Strait of Hormuz, and then, within 15 to 20 days, reach a final agreement.

On the 6th, spot gold saw pronounced volatility throughout the day. After opening, it continued to fall, then surged sharply upward, turning from decline to rise. As of the time of writing, spot gold has broken through the $4,700 level, trading at $4,702.462 per ounce, up more than 0.5%.

International oil prices plunge

International oil prices quickly plunged. As of the time of writing, WTI crude oil futures were down 1.81%, at $109.52 per barrel; ICE Brent crude oil futures were down 0.54%, at $108.44 per barrel.

Source: Wind (the same applies below)

During the morning session, WTI crude oil futures once jumped more than 3%, with the high touching $115.48 per barrel; ICE Brent crude oil futures’ gains also once exceeded 2%.

Stocks in Japan and South Korea open higher and rise strongly

On April 6, stock markets in Japan and South Korea opened higher and rose strongly. As of the close, they all finished with gains. Japan’s Nikkei 225 index closed up 0.55% at 53,413.68 points. South Korea’s KOSPI index closed up 1.36% at 5,450.18 points.

U.S. stock index futures surge sharply during trading

U.S. stock index futures surged sharply during trading. Nasdaq 100 futures, S&P 500 index futures, and Dow Jones futures all once turned positive. Previously, however, Nasdaq 100 futures had been down nearly 1%, while S&P 500 index futures and Dow Jones futures had been down nearly 0.80%. As of 16:43 Beijing time, Nasdaq 100 futures were up 0.53%, S&P 500 index futures up 0.28%, and Dow Jones futures up 0.06%.

Ahead of the U.S. market open, storage-chip concept stocks rose collectively. As of 16:00 Beijing time, Micron Technology and SanDisk were up more than 3%, Western Digital up more than 2.5%, and Seagate Technology up 1.83%. Major technology stocks also rose collectively: Tesla was up 1.51%, Microsoft and Meta were up more than 0.60%, and Google was up 0.75%.

Eight countries including Russia, the UAE, and Iraq jointly announce: raise crude oil production

Local time on April 5, eight member countries of OPEC+—a group formed by the Organization of the Petroleum Exporting Countries (OPEC) together with non-OPEC oil-producing countries—held a meeting and decided to increase crude oil output by 206k barrels per day starting in May 2026, continuing the previously announced plan to gradually phase out voluntary production cuts.

The countries attending included Saudi Arabia, Russia, the UAE, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. The meeting made no other adjustments to the current production policies.

Source | Compiled by China News Service and China Economic Net, based on China News Network, the Economic Daily News, CCTV News Client, and CCTV International News

Review | Li Jian

Editor | Xu Mingming

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