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President Donald Trump said he could live with not taking over the Strait of Hormuz. And investors around the world celebrated.Celebrated is the only word for a gain of 1,125-point gain in the Dow Jones Industrial Average and a 3.8% gain in the Nasdaq Composite Index.Except that the futures markets for oil aren't so bearish. Yet.And getting oil prices down is a big objective for the Trump White House.Related: Goldman Sachs resets oil-price bets as war rages onCrude oil in New York settled at $101.38 a barrel, down 1.5% on the day but was up to $102.34 early in the evening. Brent crude, the global benchmark, fell 27 cents to $103.97 at the close and was off another 22 cents to $103.75.Energy stocks mostly fell, but they recovered some of their early losses by the close. The Energy Select Sector SPDR exchange-traded fund recovered some of its early losses during the day and closed down 70 cents to $61.26 and was drifting lower in after hours trading.We'll see how these market trend develop overnight and in the next few days. But the conclusion that may be drawn is there is skepticism things are about to wrap up. If it was over, oil prices would be falling much harder than they have so far.Brent crude is just 5.5% off its peak of March 9 and nowhere $72.87 a barrel, its close on Feb. 27, the day before the first missile and air attacks were launched on Iran.More Oil and Gas:The world’s biggest gas field matters just as much as oil right nowGoldman Sachs reveals top oil stocks to buy for 2026U.S. economy will show resilience, despite rising oil pricesThe options markets for oil suggest many traders see more upside on oil, Mandy Xu, head of derivatives market intelligence for CBOE, said during a CNBC appearance. And, she added, they're betting oil prices will stay higher for a "rather prolonged" period of time.Not much news for motorists to cheer about. Yet.AAA put the national average price of gasoline at $4.18 a gallon, up 41% for the year. GasBuddy's national average quote was $4.042, up 43% on the year.Related: Longtime oil analyst sends dire oil price messageSo, do we really know what's going on? Sort of. Here's what we mean.The United States is not withdrawing from the Persian Gulf region. Defense Secretary Pete Hegseth has announced a third U.S. aircraft carrier was on its way to the Gulf.China and Pakistan offered a five-point peace plan to end the fighting. End is the operative word. Neither the U.S. nor Israel nor Iran has reacted positively to it.President Trump told members of NATO they should commit forces to reopening the Strait of Hormuz because the United States might withdraw altogether.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoTrending tickersTSLA Tesla, Inc. 360.59 -20.67 (-5.42%)BTC-USD Bitcoin USD 66,470.23 -364.82 (-0.55%)SKYQ Sky Quarry Inc. 5.10 +2.57 (+101.58%)SIDU Sidus Space, Inc. 3.0900 +0.9900 (+47.14%)AAOI Applied Optoelectronics, Inc. 103.91 +17.56 (+20.34%)PortfolioSign in to access your portfolioSign inTop gainersAAOI Applied Optoelectronics, Inc. 103.91 +17.56 (+20.34%)SBAC SBA Communications Corporation 204.04 +32.48 (+18.93%)YSS York Space Systems, Inc. 28.03 +4.43 (+18.77%)VSAT Viasat, Inc. 53.69 +8.46 (+18.70%)LUNR Intuitive Machines, Inc. 23.99 +3.75 (+18.53%)Top losersKNF Knife River Corporation 73.91 -8.20 (-9.99%)WIX Wix.com Ltd. 81.95 -8.55 (-9.45%)PBH Prestige Consumer Healthcare Inc. 52.48 -5.20 (-9.02%)ENPH Enphase Energy, Inc. 34.92 -3.36 (-8.78%)RGC Regencell Bioscience Holdings Limited 30.80 -2.92 (-8.66%)Most activeNVDA NVIDIA Corporation 177.39 +1.64 (+0.93%)INTC Intel Corporation 50.38 +2.35 (+4.89%)NOK Nokia Oyj 8.82 +0.55 (+6.65%)PLUG Plug Power Inc. 2.4100 +0.1600 (+7.11%)TSLA Tesla, Inc. 360.59 -20.67 (-5.42%)Top economic eventsEarnings eventsMy earnings eventsEarnings events