Oil and Gas Prices Plunge After US and Iran Agree to Ceasefire
April 9, 2026
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1:40Now PlayingOil and Gas Prices Plunge After US and Iran Agree to Ceasefire
YouTube Description
as posted by the channelOil and gas prices both plummeted after the US and Iran agreed to a two-week ceasefire aimed at halting the American-Israeli military campaign in exchange for a reopening of the Strait of Hormuz. #iran #worldnews #politics #trump #usa #israel
Brent fell as much as 17% before trading around $92 a barrel, while European natural gas futures posted their biggest decline in more than two years, shedding as much as 20%. Prices of refined fuels such as diesel and jet fuel — which had been the biggest threats to global inflation — also tumbled.
Much will now depend on how quickly transit through Hormuz can resume. It’s the route for about a fifth of global oil and liquefied natural gas supplies, and the near-halt of traffic has pushed prices for real-world crude to a record. Faced with an unprecedented disruption to flows, the world is rapidly running down supply buffers to offset the loss.
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