# The Red Sea Economic Times – April 9 | The New Silk Road Monitor

> The New Silk Road Monitor's April 9 roundup reports Suez Canal toll rebates for certain containerships, a two-week unilateral ceasefire by the Saudi-led coalition in Yemen, and a Saudi-Russia agreement in principle on large oil production cuts. Oil prices spiked and then gave back most gains on the day.

- Date: 2020-04-09 · published 2020-04-09T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/53539-the-red-sea-economic-times-april-9-the-new-silk-road-monitor
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

The OPEC+ production cut deal supports crude and energy prices, which feed into biofuel economics and freight costs for grains and oilseeds.

## Read by commodity

- SBO: neutral
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-03-01 | [oil: Oil rises on OPEC supply cuts, but surging US output and economic slowdown weigh - The Economic Times](https://feedsoft.ai/events/60280-oil-oil-rises-on-opec-supply-cuts-but-surging-us-output-and-economic-slowdown.md) | -1.0% | +3.6% |
| WTI | 2026-03-08 | [Oil Prices Spike to Over $110 a Barrel, Highest Since Pandemic - The New York Times](https://feedsoft.ai/events/5233-oil-prices-spike-to-over-110-a-barrel-highest-since-pandemic-the-new-york-times.md) | +8.5% | +25.0% |
| WTI | 2026-04-29 | [Crude oil price jumps to $115, highest level since June 2022 amid stalled Iran war talks. Brace for $150? - The Economic Times](https://feedsoft.ai/events/19905-crude-oil-price-jumps-to-115-highest-level-since-june-2022-amid-stalled-iran.md) | +2.2% | -10.9% |
| WTI | 2024-04-26 | [Oil settles higher on supply concerns in the Mideast, economic woes subdue gains \| Reuters](https://feedsoft.ai/events/30632-oil-settles-higher-on-supply-concerns-in-the-mideast-economic-woes-subdue-gains.md) | -5.2% | -8.5% |
| WTI | 2024-04-13 | [US dollar rallies on safe-haven bids, rate cut delay; yen hits 34-year low - The Economic Times](https://feedsoft.ai/events/12557-us-dollar-rallies-on-safe-haven-bids-rate-cut-delay-yen-hits-34-year-low-the.md) | -3.0% | -8.0% |
| BRENT | 2019-03-01 | [oil: Oil rises on OPEC supply cuts, but surging US output and economic slowdown weigh - The Economic Times](https://feedsoft.ai/events/60280-oil-oil-rises-on-opec-supply-cuts-but-surging-us-output-and-economic-slowdown.md) | +0.0% | +2.2% |
| BRENT | 2026-03-08 | [Oil Prices Spike to Over $110 a Barrel, Highest Since Pandemic - The New York Times](https://feedsoft.ai/events/5233-oil-prices-spike-to-over-110-a-barrel-highest-since-pandemic-the-new-york-times.md) | +9.5% | +25.6% |
| BRENT | 2026-08-12 | [Panama Canal Toll Jumps 16-Fold as Red Sea Sees First Death - Seoul Economic Daily](https://feedsoft.ai/events/16776-panama-canal-toll-jumps-16-fold-as-red-sea-sees-first-death-seoul-economic-daily.md) | +0.7% | +8.0% |

## Sources

- newsilkroadmonitor.com: https://newsilkroadmonitor.com/2020/04/09/the-red-sea-economic-times-april-9/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.