What immediate impact did the US-Iran conditional ceasefire have on oil prices and stock markets?

Oil prices plunged—Brent crude dropped 13.5% to $94.36 a barrel and US crude fell 15.5% to $95.36—while global stock markets rallied, with Wall Street logging its biggest single-day gain in a year and Asia-Pacific indices surging (e.g., South Korea’s Kospi up 7.5%).

What are the key conditions and uncertainties of the two-week ceasefire between the US and Iran?

The ceasefire is conditional: the US paused threatened attacks if Iran agreed to a two-week truce and reopened the Strait of Hormuz under Iranian military management; however, it remains unclear how the Strait will be managed beyond two weeks, whether Israel’s actions in Lebanon are covered, and whether the US will accept Iran’s 10-point proposal.

Oil prices plunge and stocks jump after Trump announces conditional ceasefire with Iran

Apr 9, 2026

Global oil prices plunged over 15% following a conditional US-Iran ceasefire, triggering a major stock market rally. Analysts warn stability hinges on the Strait of Hormuz remaining open beyond the two-week truce.

theguardian

Oil Prices Sink and US Stock Futures Jump as US and Iran Agree to 2-Week Ceasefire

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