# Oil prices plunge on Trump's US-Iran ceasefire post

> Crude oil prices dropped sharply after President Trump said the US agreed to a two-week ceasefire with Iran proposed by Pakistan. Brent fell about 13% to around $95 and WTI fell about 14% to around $96, the largest one-day drop since the 1991 Gulf War apart from COVID. The agreement is conditional on Iran allowing a complete reopening of the Strait of Hormuz.

- Date: 2026-04-08 · published 2026-04-08T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The reopening of the Strait of Hormuz, which carries about a fourth of seaborne oil, would restore supply and lower the risk premium in crude. Lower energy costs would ease pressure on feed production and transport expenses.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-04-08 | 1 | -11.6% | -3.2 | Directly describes the April 8 Brent drop of about 13% after the US-Iran two-week ceasefire announcement, which cut the geopolitical supply-risk premium. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-04-08 | [Oil: Prices slump below $100 on ceasefire – ING](https://feedsoft.ai/events/6904-oil-prices-slump-below-100-on-ceasefire-ing.md) | -13.7% | -8.7% |
| BRENT | 2020-01-08 | [Oil prices plunge as Trump speech eases Iran fears \| CNN Business](https://feedsoft.ai/events/9660-oil-prices-plunge-as-trump-speech-eases-iran-fears-cnn-business.md) | -5.9% | -21.3% |
| BRENT | 2026-05-01 | [US Soybean Oil Futures Sink 5% on Iran Ceasefire Plan](https://feedsoft.ai/events/19807-us-soybean-oil-futures-sink-5-on-iran-ceasefire-plan.md) | -15.2% | -22.3% |
| BRENT | 2026-04-08 | [Brent crude oil prices drop amid Iran war ceasefire \| Trucking Dive](https://feedsoft.ai/events/10141-brent-crude-oil-prices-drop-amid-iran-war-ceasefire-trucking-dive.md) | -13.7% | -8.7% |
| BRENT | 2026-03-23 | [Oil Prices Fall More Than 10% After Trump Postpones Iran Strikes](https://feedsoft.ai/events/11451-oil-prices-fall-more-than-10-after-trump-postpones-iran-strikes.md) | +1.5% | -13.8% |
| WTI | 2026-04-08 | [Oil: Prices slump below $100 on ceasefire – ING](https://feedsoft.ai/events/6904-oil-prices-slump-below-100-on-ceasefire-ing.md) | -18.9% | -8.3% |
| WTI | 2020-01-08 | [Oil prices plunge as Trump speech eases Iran fears \| CNN Business](https://feedsoft.ai/events/9660-oil-prices-plunge-as-trump-speech-eases-iran-fears-cnn-business.md) | -7.0% | -18.9% |
| WTI | 2026-05-01 | [US Soybean Oil Futures Sink 5% on Iran Ceasefire Plan](https://feedsoft.ai/events/19807-us-soybean-oil-futures-sink-5-on-iran-ceasefire-plan.md) | -9.6% | -16.3% |

## Sources

- axios.com: https://www.axios.com/2026/04/07/oil-prices-plunge-us-iran-war-ceasefire-trump

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