U.S. President Donald Trump speaks at the official dining room of the White House on Tuesday, April 21, 2026 in Washington, DC.
Daniel Heuer | Bloomberg | Getty Images
Hello, my name is Dylan Butts from Singapore. Welcome to another edition of CNBC’s Daily Open.
US President Donald Trump has extended the deadline for Iran’s ceasefire, but the move appears to have added new uncertainty to the Middle East conflict, with Tehran showing reluctance to engage in diplomatic efforts.
Separately, don’t miss CNBC’s coverage of the CONVERGE LIVE event kicking off in the Lion City. It will feature conversations about the future of global investing, leadership, technology, and sustainability.
Notable participants to headline the first day include Singapore’s Deputy Prime Minister Gan Kim Yong, Capital Group CEO Mike Gitlin, and Tan Hsu Hsiang, CEO of Southeast Asia’s largest bank DBS.
enjoy!
What you need to know today
US President Donald Trump expects some companies that had to pay tariffs to abide by the “no withdrawal” policy.
President Trump said on CNBC’s “Squawk Box” on Tuesday that he would “gratefully remember” U.S. companies that have not sought refunds for tariffs he imposed that were ruled illegal by the Supreme Court.
Several large companies, including Apple and Amazon, have yet to apply for refunds of the duties they paid.
President Trump’s comments came a day after U.S. Customs and Border Protection launched a portal for importers seeking refunds of more than $160 billion.
On the geopolitical front, President Trump extended a two-week ceasefire with Iran, saying the extension was justified because Tehran’s government is “deeply divided.” President Trump told CNBC that he expects the United States to reach a “big deal” with Iran.
After markets ended lower on Tuesday on higher oil prices, stock futures for major U.S. indexes rose on President Trump’s extension of the ceasefire.
However, Asia-Pacific markets opened sharply lower on Wednesday amid growing concerns that the Middle East conflict could drag on.
United Airlines on Tuesday cut its 2026 revenue outlook to address rising jet fuel prices, as supply chain issues continue to stem from the Middle East conflict.
In technology news, SpaceX announced it has signed a deal with AI startup Cursor, giving it the right to acquire the company for $60 billion later this year or pay $10 billion.
— Dylan Butts
And finally…
A timeline look back at how the Iran war shook oil prices and what will happen next
Since the outbreak of war in the Middle East, oil markets have staggered from panic to relief and back again, with markets bracing for more volatility.
Prices have soared more than 55% since the start of the war, with Brent crude soaring from about $72 a barrel on February 27 to a peak of nearly $120, amid growing concerns about supply disruptions through the Strait of Hormuz. Brent crude oil rose 51% in March, the largest single-month jump in oil prices ever.
Headlines about the war caused oil prices to post their biggest daily rise since the Russia-Ukraine war, while Brent crude oil prices posted their biggest daily decline in decades.
Here are some key moments in which oil has reacted since the start of the US-Israel war against Iran, and where it may go next…
— Emma Graham, Li Yingshan
