Oil Slides Below $100 After Trump Announces Two-week ceasefire
Published . Category: World.
Oil prices dropped sharply below $100 per barrel on Wednesday, April 8, 2026, following U.S. President Donald Trump’s announcement of a two-week ceasefire agre…
Oil prices dropped sharply below $100 per barrel on Wednesday, April 8, 2026, following U.S. President Donald Trump’s announcement of a two-week ceasefire agreement with Iran. This ceasefire is conditional on the immediate and safe reopening of the Strait of Hormuz, a crucial passage for about 20% of the world’s oil supply. As a result, Brent crude fell by 13.6% to $94.43 per barrel, and WTI crude declined by 14.3% to $96.82 per barrel. Trump’s announcement came just before his deadline for Ira…