Israel Iran War · 8 April 2026

Brent Crude Drops as US-Iran Truce Announced

The cost of energy fell as oil prices dropped and stock markets rose sharply. US President Donald Trump announced a two-week conditional ceasefire with Iran on Tuesday night, after Iran's foreign minister agreed to reopen the Strait of Hormuz for the same period. Brent crude oil dropped 14.4% to $93.48 a barrel, while Japan's Nikkei surged more than 4%.

By BriefTea Editorial · 8 April 2026 at 5:36

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