Oil prices fall as Iran, US reach ceasefire

2026-04-08 08:29:01Aktualitet SHKRUAR NGA REDAKSIA VOX

Oil falls over 14% after ceasefire, but markets remain cautious

Global oil prices have fallen sharply following news of a ceasefire and signals from Iran about reopening the Strait of Hormuz, a vital artery for world trade.

Brent crude fell more than 13.5%, falling to around $94 a barrel, in an immediate reaction by markets to the possibility of global supply stabilization.

However, experts warn that there is no room for excessive optimism yet. Oil production in some major Middle Eastern countries has slowed significantly due to recent tensions, and a return to normal levels is not expected to happen immediately.

Another factor that is holding back the deeper price decline is the markets' skepticism towards recent statements from the Donald Trump administration about ending the conflict, after several weeks of unclear signals.

Despite the decline, prices remain significantly higher compared to the period before the conflict escalated, when oil traded around $72 per barrel, while last year's average was $69.

On the other hand, financial markets in Asia have reacted positively. Major indices have recorded strong gains, with the KOSPI index in South Korea rising by around 7%, while the Nikkei 225 in Japan has recorded a rise of 5%.


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