Markets are hopeful, but the fighting continues.

From Marketplace, I'm Sabri Beneshore, in for David Brancaccio.

President Trump says the war with Iran could be over in a couple of weeks and plans to address the nation tonight.

Pakistan and China are also trying to broker a ceasefire.

The price of oil fell from a high of $19 a barrel yesterday down to $102 a barrel this

morning. Stocks rallied yesterday and this morning. Meanwhile, the fighting very much continues. Bradley

Saunders joins us for more. He's North America economist at Capital Economics. Welcome.

Hi. Thanks a having me. So yesterday, the major stock indices here

went up by the most they have in 10 months. Markets have been criticized for not taking the weight

of the consequences for energy markets seriously enough, and also for sort of being overly

optimistic when we get de-escalatory language. What do you think?

Yeah, I think it's an interesting one. I think given it's not solely commentary from the Trump administration at this point, it's also from Iran.

We had the Iranian president saying that Iran was ready to bring an end to the conflict also, but provided that, you know, would look for

concessions in the form of guarantees. There'd be no U.S. Israeli aggression in future. But I think

this de-escalistory language, as you say, from both sides is what's given markets a bit of

confidence and led to some of the growth we've seen over the past 24 hours.

The price of oil went up 63 seen over the past 24 hours.

The price of oil went up 63% in the month of March. It has come down today compared to yesterday,

sharply. If there is real progress towards a ceasefire, do oil prices just keep on falling slowly from here? I think that oil price would trend downwards if we saw a ceasefire,

given that some of the rise in the prices, I suppose, a risk premium, which would shrink.

Whether it would return to pre-war levels is another matter entirely, and that depends a lot

on the fortunes for ships in the straight-to-four moves.

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