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Oil Drops Below $100 After Trump's Ceasefire Announcement with Iran

April 8, 2026اقتصاد – الشروق أونلاينechoroukonline.comTranslated from Arabic
Oil Drops Below $100 After Trump's Ceasefire Announcement with Iran

Oil prices fell today, Wednesday, to below $100 per barrel, following U.S. President Donald Trump's announcement of a two-week ceasefire with Iran, provided that the Strait of Hormuz is reopened immediately, a move that directly affected global markets. According to trading data, Brent crude dropped by about $14.84, equivalent to 10.10 percent, settling at $92.97 per barrel, while West Texas Intermediate crude fell by $16.13, or 14.3 percent, reaching $94.82 per barrel, as of 08:04 GMT. View the full content on Echourouk Online.

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