Oil prices slide after Trump agrees to conditional two-week Iran ceasefire
Published on April 7, 2026.
Global oil prices have dropped sharply since President Donald Trump announced a two-week ceasefire between the US and Iran, conditional if vessels are allowed to move through the key Strait of Hormuz waterway. The agreement was reached in a social media post, with a deadline set at 20:00 GMT. However, prices remain higher than before the conflict began.
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