# WTI at $94 as Oil Tumbles Amid Tenuous Iran Ceasefire

> WTI settled down $18.54, or 16%, at $94.41 a barrel on April 8 after a two-week ceasefire was announced over the Iran war. Brent fell 13% to $94.75, and product prices also tumbled. Some ships reported being turned away from the Strait of Hormuz and Iran reportedly announced a $1 per barrel transit charge.

- Date: 2026-04-08 · published 2026-04-08T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/6902-wti-at-94-as-oil-tumbles-amid-tenuous-iran-ceasefire
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Crude and product declines reflect hopes for restored Gulf flows, but unclear passage through Hormuz leaves supply risk open. Lower diesel and crude prices would reduce transport and processing costs for feed.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2026-04-10 | 5 | -14.7% | -2.9 | The two-week US-Iran ceasefire on April 8 triggered a 16% crude collapse and sharp product price declines, the main driver of the ULSD drop over the window. |
| WTI | 2026-04-09 | 5 | -12.5% | -3.1 | WTI settled down 16% to $94.41 on April 8 after the two-week ceasefire announcement, the main driver of the 5-day decline. |
| DIESEL | 2026-04-08 | 1 | -12.4% | -3.4 | WTI fell 16% on April 8 on the ceasefire and product prices tumbled, the same-day crude and product price shock behind the ULSD drop. |
| BRENT | 2026-04-08 | 1 | -11.6% | -3.2 | Reports the April 8 settlement drop in Brent and WTI on the ceasefire, confirming the move, while noting tenuous Hormuz flows that limited the decline. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2026-03-25 | [Oil Dips as Israel Media Hints at Looming Iran Ceasefire](https://feedsoft.ai/events/8541-oil-dips-as-israel-media-hints-at-looming-iran-ceasefire.md) | +15.0% | +1.0% |
| BRENT | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -13.7% | -8.7% |
| 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 | 2026-04-07 | [Oil tumbles below $100 after Trump announces two-week ceasefire \| Reuters](https://feedsoft.ai/events/6897-oil-tumbles-below-100-after-trump-announces-two-week-ceasefire-reuters.md) | -6.5% | -1.7% |
| WTI | 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) | -18.9% | -8.3% |
| WTI | 2026-03-25 | [Oil Dips as Israel Media Hints at Looming Iran Ceasefire](https://feedsoft.ai/events/8541-oil-dips-as-israel-media-hints-at-looming-iran-ceasefire.md) | +10.2% | +1.3% |
| WTI | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -18.9% | -8.3% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/AG/news/world-policy/article/2026/04/08/wti-94-oil-tumbles-amid-tenuous-iran

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