Oil Price Today (April 22): Crude oil prices hover near $100 despite Iran war ceasefire extension. Here’s why

April 22, 2026

Crude oil prices saw little movement as President Trump extended a ceasefire with Iran, though Iran described the continued blocking of ships as an act of war. Shipping activity through the Strait of Hormuz remains stalled, with analysts expecting prices to remain supported and potentially spike if disruptions persist.

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