economy
April 8, 2026
Trump's Truce with Iran Cools Oil and Gas Prices: Oil Down 13 Percent, Gas Down 17 Percent
The price of Brent crude oil, the benchmark for global oil prices, fell by about 15 percent this morning after U.S. President Donald Trump announced that the country had concluded a two-week truce with Iran and that the Strait of Hormuz had been reopened.
TL;DR
- Brent crude oil prices fell by about 15% after President Trump announced a truce with Iran.
- Natural gas prices on the TTF exchange dropped by 17%.
- The truce involves a two-week ceasefire and the reopening of the Strait of Hormuz.
- The deal is seen as a starting point for further negotiations.
- The resolution of the conflict is expected to ease global inflation and support economic growth.