Oil Price Today (April 8): Crude oil price crashes 15% as Trump agrees 2-week ceasefire with Iran. What are experts saying?

April 8, 2026

Brent Crude oil price: Oil prices plummeted below $100 a barrel following President Trump’s announcement of a two-week ceasefire with Iran, contingent on the safe reopening of the Strait of Hormuz. This development, averting a potential escalation, saw Brent crude fall to $94.43 and WTI to $96.82.

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