Markets rally as oil prices plunge

The announcement of a two-week truce in the Middle East has triggered a $1.5 trillion relief rally on Wall Street.

Brent crude futures fell nearly 17 percent as traders bet on the restoration of shipping through the world's most critical oil chokepoint.

While equity markets are nearing record highs, some analysts warn that the volatility is far from over.

The Federal Reserve is also monitoring the situation closely, as lower energy costs could influence future interest rate decisions.