# Oil: Prices slump below $100 on ceasefire – ING

> ING analysts said oil prices dropped sharply as a US-Iran two-week ceasefire eased supply disruption fears. Bloomberg survey data showed OPEC output fell about 7.6 mb/d in March to 22.1 mb/d, while API data showed a 3.7 mb build in US crude stocks.

- Date: 2026-04-08 · published 2026-04-08T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/6904-oil-prices-slump-below-100-on-ceasefire-ing
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Reopening the Strait of Hormuz could restore some lost output, though full normalization will be gradual. Bearish crude inventory data and expected supply recovery point to lower energy costs for feed producers in the near term.

## 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 | Analyst commentary attributes the slump to eased supply-disruption fears, with a US crude stock build adding minor bearish pressure. |
| WTI | 2026-04-09 | 5 | -12.5% | -3.1 | ING notes the ceasefire eased supply fears while a US crude stock build added bearish pressure. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2026-04-08 | [The Commodities Feed: Oil slumps below $100 after US, Iran agree to two-week ceasefire \| ING THINK](https://feedsoft.ai/events/10459-the-commodities-feed-oil-slumps-below-100-after-us-iran-agree-to-two-week.md) | -13.7% | -8.7% |
| 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% |
| BRENT | 2024-08-01 | [Oil prices fall 2% to six-week low on ceasefire talks, demand concerns](https://feedsoft.ai/events/29442-oil-prices-fall-2-to-six-week-low-on-ceasefire-talks-demand-concerns.md) | -3.4% | -2.1% |
| 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% |
| 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% |
| WTI | 2026-04-08 | [The Commodities Feed: Oil slumps below $100 after US, Iran agree to two-week ceasefire \| ING THINK](https://feedsoft.ai/events/10459-the-commodities-feed-oil-slumps-below-100-after-us-iran-agree-to-two-week.md) | -18.9% | -8.3% |
| WTI | 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) | -11.7% | -4.3% |

## Sources

- mitrade.com: https://www.mitrade.com/au/insights/news/live-news/article-2-1617620-20260408

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