Markets hold steady as US-Iran Ceasefire Hangs by a Thread
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By Pooja Rajkumari
Published on April 9, 2026.
The United States-Israel-Iran conflict has stalled five weeks into its start, with President Donald Trump agreeing to halt attacks on Iran in a "double-sided" ceasefire. The deal, brokered by Pakistan, stipulated that Iran must reopen the Strait of Hormuz, a vital oil supply supply supply route that has been shut since the war began in February. Despite this, Wall Street remained optimistic about the possibility of the ceasefire, with West Texas Intermediate futures rising 2.2% to above $96.49 per barrel and Brent crude climbing to $94.81 a barrel. However, energy markets remain on edge due to ongoing tensions between the conflict and Iran. The U.S. military will remain deployed in and around Iran until Tehran fully complies with the "real agreement", warning that any breach would trigger a military response larger than previously seen.
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