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2026-04-08 09:48:08
[Analysts Warn: Ceasefire a "Good Start," But Hormuz Risk Remains; Oil Prices Plunge Below $100] 1. Oil prices plunged on Wednesday, with WTI crude falling as much as 19.39% to $91.05 and Brent crude falling as much as 16% to $91.77, both falling below $100. This followed Trump's announcement of a two-week ceasefire agreement with Iran, contingent on the immediate and safe reopening of the Strait of Hormuz. 2. IG analyst Tony Sycamore stated, "This is a good start and could pave the way for a more lasting restart, but many uncertainties remain to be resolved." Trump announced the ceasefire less than two hours before his set deadline. 3. Iran's Foreign Minister stated that if the attacks cease, Iran will also cease its attacks, and with coordination with the Iranian armed forces, the Strait of Hormuz will be safe for passage for the next two weeks. However, several Gulf states have confirmed attacks or issued evacuation warnings to civilians. 4. MST Marquee analyst Saul Kavonic warned: "Even if a peace agreement is reached, Iran may become more brazen and frequent in threatening the Strait of Hormuz in the future, and the market will factor in the increased risks associated with the Strait of Hormuz into future oil prices."
