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Oil Prices Surge Amidst US-Iran Ceasefire Uncertainty, ETCFO
Reuters Published On Apr 9, 2026 at 08:52 AM IST By Sam Li and Lewis JacksonBEIJING, - Oil prices rose on Thursday on investors' concerns supply from the key Middle East producing region may not fully resume amid doubts the two-week ceasefire between the U.S. and Iran will hold and as the crucial Strait of Hormuz remains restricted. Brent crude futures were up $2.6, or 2.74%, at $97.35 a barrel at 0048 GMT, while U.S. West Texas Intermediate (WTI) crude rose $3.02, or 3.2%, to $97.43 a barrel.Both benchmark prices fell below $100 per barrel in the previous trading session, with WTI recording its biggest decline since April 2020 on expectations the ceasefire ending the fighting between the U.S. and Israel against Iran would reopen the Strait of Hormuz. Advt The waterway connects supply from Gulf producers such as Iraq, Saudi Arabia, Kuwait and Qatar to global markets and typically carries about 20% of oil supply.Still, questions about the viability of the ceasefire remain as Israel continued to attack Lebanon on Wednesday, causing Iran to suggest it would be "unreasonable" to proceed with talks to forge a permanent peace deal.Shippers on Wednesday also said they needed more clarity on the terms of the ceasefire before resuming transit through the Strait of Hormuz. Iran has issued maps to guide ships around mines in the waterway and designated safe paths for passage in coordination with the country's Revolutionary Guards, Iranian media reported."Transit through the Strait of Hormuz is not suddenly risk-free. It remains at Iran's discretion," analysts at Standard Chartered said in a note."Logistic disconnects, security fears, elevated insurance premiums and operational constraints mean that very little additional energy is likely to be supplied via the Strait of Hormuz in the next two weeks."Regional oil facilities also remain under threat, with Iran striking sites in nearby countries after the ceasefire, including a pipeline in Saudi Arabia that has been used to bypass the blockaded Strait of Hormuz, according to an oil industry source. Advt Kuwait, Bahrain and the UAE also reported missile and drone strikes.There are doubts the ceasefire can hold, Haitong Futures said in a note, as Israel's strikes on Lebanon's Hezbollah have emerged as a point of contention, while attacks on energy facilities across the Middle East have yet to stop, and conflicting statements persist over the Strait of Hormuz. (Reporting by Sam Li and Lewis Jackson...
Oil prices sink and stocks jump as the U.S. and Iran agree to ceasefire
Oil prices plunged below $95 per barrel, and stock markets surged worldwide Wednesday after President Trump pulled back from his threat to destroy Iran.The Standard & Poor’s 500 leaped 2.5% after Trump announced a two-week ceasefire with Iran, less than 90 minutes before a deadline Trump had set for it to open the Strait of Hormuz and allow oil tankers to exit the Persian Gulf.The Dow Jones industrial average rallied 1,325 points, or 2.8%, and the Nasdaq composite soared 2.8% following even bigger gains in European and Asian stock markets.To be sure, stock prices are still below where they were before the war. And oil prices are still higher because of the threat of a resumption to the war. The ceasefire already looks precarious, and dueling reports from Iran state media and the White House disagreed Wednesday on whether Iran had closed the Strait of Hormuz again.Such uncertainty caused some of the euphoria that fueled financial markets in the morning to fade as Wednesday’s trading progressed, and financial markets have been prone to sharp and sudden reversals since the war began.“There is a reason to be optimistic, but it is still too early to tell, because, as you know, after all, it is Trump,” said Takashi Hiroki, chief strategist at MONEX.So far in the war, Trump has set several deadlines for Iran to open the Strait of Hormuz, a main thoroughfare for oil to reach customers worldwide from the Persian Gulf, and has threatened big repercussions if Iran doesn’t, only to delay them.It’s similar to a year ago, when Trump threatened stiff tariffs on imports from other countries on “Liberation Day.” After a couple of delays, his administration eventually negotiated lower tariffs with many countries, though still higher than from before his second term. That led some investors to allege Trump “always chickens out,” or “TACO,” if financial markets show enough pain.“Is it just kicking of the can down the road, moving the goalposts, TACO Tuesday, or whatever metaphor we’d like, to only to have tempers flare and bombs drop again?” Brian Jacobsen, chief economic strategist at Annex Wealth Management, asked about the two-week ceasefire with Iran. “Who knows? But it’s good enough for now to elicit a positive response from the markets.”The price for a barrel of benchmark U.S. crude oil plunged 16.4% to settle at $94.41 after almost dropping to $91 earlier in the morning.Brent crude, the international standard, tumbled 13.3% to $94.75 per barrel. It had briefly topped $...
Oil plunges, stocks surge as US-Iran ceasefire sparks global market ...
Oil prices plunge and global stocks surge after US-Iran ceasefire lifts hopes of Hormuz reopening, though investors remain cautious on lasting peace.
Fed Cut Hopes Return As Ceasefire Eases Oil Fears
Expectations that the US Federal Reserve could still cut interest rates this year resurfaced after a two-week ceasefire in the Iran conflict eased immediate concerns over another inflation shock, although policymakers and investors remain wary of elevated oil prices and lingering geopolitical risks.
