economy
April 9, 2026
DRAMATIC TURN ON WORLD ENERGY EXCHANGES! Oil prices ARE RISING AGAIN!
Prices recovered after falling earlier this week due to the announcement of a two-week ceasefire between Washington and Tehran.
TL;DR
- Oil prices surpassed $97 per barrel, reversing an earlier drop triggered by a US-Iran ceasefire announcement.
- Investor skepticism regarding the durability of the ceasefire is driving the price increase.
- The Strait of Hormuz remains largely closed, contributing to market uncertainty.
- Brent crude rose 2.4% to $97.02, and US benchmark crude increased 3.3% to $97.50.
- Asian stock markets, including Tokyo's Nikkei 225 and South Korea's Kospi, saw significant drops.
- US stock markets, which initially rallied strongly on Wednesday, showed signs of weakening.
- Negotiations for a permanent ceasefire may begin soon in Pakistan, potentially led by US Vice President JD Vance.
- The continuation of the ceasefire until negotiations begin is uncertain due to the ongoing Strait of Hormuz closure and Israeli attacks.