# As oil prices plunge below $91 after weeks, a new Hormuz crisis emerges | Oil and Gas News | Al Jazeera

> Brent fell more than 9% to $90.38 on Friday after Iran said the Strait of Hormuz was open during a Lebanon ceasefire. On Saturday Iran reversed the decision, saying it would block transit while the US blockade of its ports continued. Trump said the blockade would stay in force until a broader deal was reached.

- Date: 2026-04-18 · published 2026-04-18T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/8811-as-oil-prices-plunge-below-91-after-weeks-a-new-hormuz-crisis-emerges-oil-and
- 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

The reversal revives supply risk, so crude prices are likely to rebound from their recent lows. Renewed uncertainty keeps energy and fertilizer costs elevated for feed makers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2026-04-29 | 5 | +16.0% | 2.9 | Iran reversing the Hormuz opening on April 18 and the US blockade staying in force renewed supply fears, a plausible driver of a rebound in WTI after the April 17 plunge. |
| BRENT | 2026-04-20 | 5 | -16.1% | -3.2 | Documents the Friday plunge to $90.38 and the weekend reversal by Iran, giving context for the move and for risk of rebound. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-06-20 | [Oil prices surge after Iran shoots down US drone \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/12319-oil-prices-surge-after-iran-shoots-down-us-drone-business-and-economy-al-jazeera.md) | +7.0% | +2.1% |
| BRENT | 2026-03-01 | [Oil prices are rising sharply after US and Israeli attacks \| AP News](https://feedsoft.ai/events/5234-oil-prices-are-rising-sharply-after-us-and-israeli-attacks-ap-news.md) | +31.0% | +62.6% |
| BRENT | 2022-02-02 | [OPEC+ sticks to planned output hikes despite surging oil prices \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/42631-opec-sticks-to-planned-output-hikes-despite-surging-oil-prices-opec-news-al.md) | +4.1% | +20.3% |
| BRENT | 2025-06-13 | [Oil prices surge after Israel's strike on Iran \| CBC News](https://feedsoft.ai/events/10997-oil-prices-surge-after-israel-s-strike-on-iran-cbc-news.md) | +12.0% | -0.8% |
| BRENT | 2026-04-28 | [Oil Prices Surge as Hormuz Tensions Push WTI Near $100 and Brent Above $111, Threatening Global Energy Markets](https://feedsoft.ai/events/19906-oil-prices-surge-as-hormuz-tensions-push-wti-near-100-and-brent-above-111.md) | +4.8% | -8.9% |
| WTI | 2019-06-20 | [Oil prices surge after Iran shoots down US drone \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/12319-oil-prices-surge-after-iran-shoots-down-us-drone-business-and-economy-al-jazeera.md) | +10.2% | +2.6% |
| WTI | 2026-03-01 | [Oil prices are rising sharply after US and Israeli attacks \| AP News](https://feedsoft.ai/events/5234-oil-prices-are-rising-sharply-after-us-and-israeli-attacks-ap-news.md) | +35.6% | +50.4% |
| WTI | 2022-02-02 | [OPEC+ sticks to planned output hikes despite surging oil prices \| OPEC News \| Al Jazeera](https://feedsoft.ai/events/42631-opec-sticks-to-planned-output-hikes-despite-surging-oil-prices-opec-news-al.md) | +1.3% | +25.5% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2026/4/18/as-oil-prices-plunge-below-91-after-weeks-a-new-hormuz-crisis-emerges

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