WorldPosted at: Apr 8 2026 5:53PM


Oil markets swing back to pre-war levels post US-Iran ceasefire; uncertainty continues to linger

Washington, Apr 8 (UNI) Oil markets swung sharply lower today, following the US-Iran ceasefire, with prices sliding back to pre-war levels, while fears over prolonged supply disruptions eased among traders, with the Strait of Hormuz reopening temporarily, and resuming the rate of flows as before.
US West Texas Intermediate dropped nearly 20 per cent, while Brent crude slid as much as 16 pc, with both benchmarks retreating to around USD 95 per barrel in early trade.
The pullback, though steep, still leaves prices elevated compared to levels before the conflict began, indicating strong lingering uncertainty over how long the seemingly fragile truce might hold.
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